MUPTI review panel recommends 10-year exemption for residential and commercial parking

The City Council of Eugene, Oregon, held a work session on April 16, 2025, focusing on the proposed Multi-Unit Property Tax Incentive (MUPTI) resolution. The meeting addressed the financial implications of the MUPTI for a new development project, emphasizing the importance of parking for tenants as a necessary component of the tax-exempt residential use.

The discussion highlighted that the parking area associated with the project is considered essential and would be included under the proposed MUPTI resolution. A third-party financial consultant collaborated with the MUPTI review panel, which determined that the project would not be financially viable without the tax incentive. As a result, the panel recommended approval of a 10-year exemption that would apply to both residential and commercial areas, as well as parking spaces dedicated to residential tenants.

The meeting underscored the council's commitment to supporting developments that enhance housing options while ensuring financial feasibility through strategic tax incentives. Further steps will be taken to finalize the MUPTI resolution and its implications for the project.