After a weekend of high-stakes negotiations between Seattle City Council members and Mayor Jenny Durkan, the council voted unanimously Monday to tax the city’s largest employers to help address homelessness.

Starting next year, the tax will be $275 per employee, per year on for-profit companies that gross at least $20 million per year in the city — down from a $500-per-head proposal that Durkan threatened to veto.

The city declared a homelessness state of emergency in late 2015. A point-in-time count last year tallied more than 11,600 homeless people in King County and one in 16 Seattle Public Schools students is homeless.

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