Interesting.

 

SEATTLE (AP) — Amazon has announced $2 billion in loans and grants to secure affordable housing in three U.S. cities where it has major operations, including a Seattle suburb where the online retail giant employs at least 5,000 workers.

Amazon said it would give $185.5 million to the King County Housing Authority to help buy affordable apartments in the region and keep the rents low, The Seattle Times reported Wednesday.

The agency is expected to pair bond funding with the $161.5 million in loans and $24 million in grants from Amazon to fund its recent purchase of three apartment buildings, including 470 units in Bellevue, about 10 miles (16 kilometers) west of Seattle.

Other tech companies have invested large sums recently to boost affordable housing, following years of complaints that they have worsened inequality in cities by pushing housing prices higher.

Two years ago, Microsoft launched its own initiative and is spending $750 million to help provide market-rate or below-market-rate loans to developers who want to build affordable housing in the Seattle area.

In the latest effort by Amazon, money also was directed to Arlington, Virginia, and Nashville, Tennessee, where it has hubs. Company officials projected the $2 billion would preserve or create 20,000 affordable housing units over the next five years.

The funding will “help local families achieve long-term stability while building strong, inclusive communities,” Amazon CEO Jeff Bezos said.

While Amazon and Bezos have given large amounts toward affordable housing and homelessness services, including opening a homeless shelter on the campus of its Seattle headquarters, the company has also drawn scorn for successfully pressuring the Seattle City Council to rescind a tax on large companies that would have funded homelessness services in 2018.

Stephen Norman, executive director of the King County Housing Authority, said affordable housing is often renovated and rents are increased, worsening economic and racial segregation.

“This is a long strategy ensuring … that this community doesn’t get hollowed out,” he said.

Norman added that the money is estimated to cover about 45% of the cost of the three apartment buildings.

 

Your Tax Free Donations Are Appreciated and Help Fund our Volunteer Website

Disclaimer: We at Prepare for Change (PFC) bring you information that is not offered by the mainstream news, and therefore may seem controversial. The opinions, views, statements, and/or information we present are not necessarily promoted, endorsed, espoused, or agreed to by Prepare for Change, its leadership Council, members, those who work with PFC, or those who read its content. However, they are hopefully provocative. Please use discernment! Use logical thinking, your own intuition and your own connection with Source, Spirit and Natural Laws to help you determine what is true and what is not. By sharing information and seeding dialogue, it is our goal to raise consciousness and awareness of higher truths to free us from enslavement of the matrix in this material realm.

RELATED ARTICLESMORE FROM AUTHOR

4 COMMENTS

  2. Breaking News February 14 ,2021-New Banking System Operational

    To Find out how the New K.i.m.s – Key.Integrated.Monetary.System. Works

    (New Banking System NOT CABAL’S USELESS MARK OF THE BEAST BITCOIN, OR CRYPTO DEAD FRESH AIR COIN’S )

    Go to : https://www.unitednetwork.news

    and Sign up From $4.99 per month to watch full presentation lifeforce meeting

    February 14 ,2021, And

    Live at 5pm Real News Monday to Friday with

    Kimberly Ann Goguen Interim Head of State America

    https://www.unn.today/press-releases

    https://www.unn.today

    • (Note : New Banking System NOT CABAL’S USELESS MARK OF THE BEAST BITCOIN,

      OR CRYPTO FRESH AIR COIN’S )

      (Note : CABAL WORLD BANK, IMF, UNITED NATIONS ARE NOW DISSOLVED )

      (Note : Pandemic Bonds Now Null and Void ! )

LEAVE A REPLY

Please enter your comment!
Please enter your name here