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Sumner narrows multifamily tax exemption, expands East Sumner target area
Summary
The Sumner City Council on March 17 approved Ordinance 2922 amending Sumner Municipal Code 3.52 to restrict the multifamily tax exemption to projects that provide affordable units and to expand the program boundary in East Sumner.
The Sumner City Council on March 17 adopted Ordinance 2922, amending Sumner Municipal Code 3.52 to change how the city’s multifamily tax exemption (MFTE) is applied. The ordinance passed by voice vote, recorded 7-0.
The MFTE changes remove the eight-year market-rate exemption option in the town center and require that projects seeking the exemption provide at least 20% of units affordable to low- and moderate-income households; the ordinance also expands the residential target area in East Sumner to the full boundary of the Sumner neighborhood plan. "It's a tax exemption for development. It's an incentive, really, for developing…
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