Supporters say the levy marks a "critical investment" in the city's housing stock, while a sole prominent skeptic argues for other strategies to address the housing shortage.
Over the next 20 years, Seattle is expected to need 3,500 new homes every year for people with low and moderate incomes. The levy is expected to fund 3,200 new homes in that income range over seven years.
Am I stupid or is this saying the program is literally 1/7th as funded as it needs to be (if passed)?
The wording is awful. Whoever wrote this didn’t break down the numbers very well. My wife and I struggled to comprehend exactly how much would be paid at the end of the seven years. Is it a flat rate each year, or is it ramping up each year until it hits a peak at year seven?
Am I stupid or is this saying the program is literally 1/7th as funded as it needs to be (if passed)?
No, no, no, you misunderstood…
… See, it’s slightly less than 1/7th.
The wording is awful. Whoever wrote this didn’t break down the numbers very well. My wife and I struggled to comprehend exactly how much would be paid at the end of the seven years. Is it a flat rate each year, or is it ramping up each year until it hits a peak at year seven?
It says over, not after, so I’d assume it’s not the latter.