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Seattle voters to decide on a nearly $1B affordable housing question (www.seattletimes.com)

submitted 1 year ago by kinther to c/seattle

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[–] tdawg 10 points 1 year ago (2 children)

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)?

[–] [email protected] 6 points 1 year ago

No, no, no, you misunderstood...

... See, it's slightly less than 1/7th.

[–] kinther 2 points 1 year ago (1 children)

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?

[–] SpaceNoodle 2 points 1 year ago

It says over, not after, so I'd assume it's not the latter.