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Council reviews draft multi‑unit property tax exemption aimed at enlivening Halsey mixed‑use corridors
Summary
Cascadia Partners presented draft Fairview MUPTI program at a March 19 work session. The proposal would offer a 10‑year exemption on improvements for eligible mixed‑use projects in the city's urban renewal area, with a points‑based public benefit test and recommended local sunset tied to the urban renewal district.
Cascadia Partners consultants and Fairview staff used a March 19 council work session to present a draft multiple‑unit property tax exemption (MUPTI) program intended to encourage mixed‑use development and ground‑floor commercial activity along Halsey Street and other priority corridors.
Allison Platt, senior associate with Cascadia Partners, told the council the draft program would exempt improvements (not land) from property taxes for up to 10 years and would be available only for mixed‑use projects that could not be built feasibly without the incentive. "This is really intended to help support projects in achieving that financial feasibility that may not exist under current market conditions," Platt said.
The draft sets baseline eligibility and a points system that applicants must meet. Projects must be at least five units and new construction, a significant addition or conversion; stand‑alone residential projects, auto‑oriented uses and hotels/short‑term rentals are excluded. The consultants recommended a site‑size calibration: small sites (under 2.5 acres) would need a minimum of 125 points to…
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