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Shelton staff propose multifamily tax exemption, two residential targeted areas to spur housing
Summary
At a study session April 8, Economic Development Director Jay Hill reviewed a draft multifamily property tax exemption ordinance and two proposed residential targeted areas (downtown and a Wallace‑Walmart corridor), describing eligibility criteria, affordability requirements and next steps for council review.
Economic Development Director Jay Hill presented a draft multifamily housing property tax exemption (MTE) ordinance and two proposed residential targeted areas during the April 8 Shelton City Council study session, describing how the tool could incentivize rental development and deed‑restricted affordable units.
Hill said the city is considering two initial residential targeted areas (RTAs): a downtown RTA and an area near the Wallace Neyland interchange and the Walmart corridor (temporarily named in the session). Under state law Hill cited (RCW discussion and the MTE statute), the proposed MTE would be limited to properties inside designated RTAs. The draft ties the length of an exemption to affordability…
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