In January, these tenants filed a lawsuit challenging the City's issuance of a critical permit to the Civic Square Project. Today, the tenants organization agreed to dismiss the lawsuit in a $5.7 million settlement with Triad. Under the settlement, Triad will pay $700,000 immediately and an additional $5 million if the Civic Square project moves forward.
This is the same lawsuit that that prompted Triad executives to attempt to blackmail City Council candidate Jon Grant. They promised to make a $200,000 smear campaign go away if Grant helped drop the legal challenge to permits.
Tenants will be working with an experienced fund manager to ensure that the money won in this settlement will be disbursed to benefit the greater Seattle community.
"Rather than allowing another giveaway to developers, displaced tenants took action and have achieved and unprecedented victory for tenants," said Eliana Horn, an organizer with Displaced Tenants for Accountability and Transparency. "This money will allow the housing justice community to explore community land trusts and housing coops that create permanently affordable housing where tenants will not be displaced."
For more information, check out Ansel's excellent reporting at The Stranger.