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Draft multifamily tax‑exemption targets higher‑value and 'missing middle' housing; council narrows maps and seeks public comment
Summary
City staff presented a draft multifamily tax‑exemption (MFTE) ordinance that adds criteria to encourage higher‑value buildings and middle‑housing; staff and committees discussed maps, a 25% discount affordability threshold for 12‑year exemptions and the projected tax‑shift impacts, and council directed staff to finalize maps for a public hearing.
City planning staff on Sept. 16 presented a draft multifamily tax‑exemption ordinance with new eligibility criteria intended to encourage higher‑value projects and missing‑middle housing. Director Nick Bond (planning) said the draft offers both eight‑ and 12‑year exemptions and four qualifying pathways, including mixed‑use shop‑front buildings, buildings at least four stories high, small‑lot middle housing (4–12 units), or projects with 100% below‑grade parking. “These programs are a property tax waiver, and cities can enact them to support local housing…
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