Three-party coalition in Amsterdam; PvdA out

A coalition agreement has finally been reached between centrist election winners D66, the VVD conservative party and the Socialist Party in Amsterdam, said Amsterdam D66-chairman Jan Paternotte on Twitter this morning. For the first time since World War II, the leftwing PvdA will be in opposition on the Amsterdam City Council. The ground lease that is rented by the city to property owners will be cancelled through as part of the agreement, and homeowners will be able to buy the land under their property in one go, a concession by the SP to the other two parties. Amsterdam will also build nearly 500 new government-backed homes annually as reimbursement to the public, and intends to invest more into the construction of housing for the elderly. D66 and the VVD agreed to put an SP alderman at the forefront of the new housing projects. The agreement will be formally announced this afternoon at 1PM.