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Redmond opens public hearing on expanding multifamily tax exemption downtown and at Marymoor; adoption tentatively set for June 17
Summary
City staff opened a public hearing on proposed amendments to Redmond Municipal Code chapter 3.38 that would expand multifamily property tax exemption target areas downtown and at Marymoor and create a new mixed-use targeted area; supporters urged approval, at least one resident warned the map could prompt displacement.
The Redmond City Council opened a public hearing on May 6 on proposed amendments to Redmond Municipal Code chapter 3.38 (the multifamily housing property tax exemption program). Staff said the proposal would expand the residential targeted areas downtown and at Marymoor and create a new mixed-use residential targeted area.
Ian Levcourt, senior planner, told the council the hearing fulfills commitments in Resolution No. 16-02 and that the draft ordinance would be discussed again at a Committee of the Whole on June 3 with potential adoption scheduled for the June 17 business meeting.
Why it matters: the multifamily property tax exemption (MFPTE) is a local tool to encourage developers to include below-market units by exempting certain property taxes for qualifying multifamily projects in designated areas. Expanding the geographic areas where the exemption applies can change development patterns and the local affordable-housing inventory.
Public commenters gave contrasting views. David Morton urged the council to approve the amendments, saying expanding the targeted areas "creates more opportunities for developers to utilize the M F T E program, incentivizing the creation of much needed affordable housing units in Redmond's key areas." Morton urged strong mechanisms to ensure long-term affordability.
Linda Seltzer, a nearby resident, opposed the current map as drawn. She said her block already contains older, lower-cost apartments, King County public housing and a family shelter and warned that incentivizing redevelopment on that block could lead to displacement and loss of existing affordable units. "They're taking a neighborhood of already existing older affordable housing and saying, well, now we're going to incentivize developers to build these buildings with 12% of it as affordable housing," Seltzer said, adding that the incentive could pressure landlords to sell.
No action was taken after the hearing. Staff said the draft ordinance will be discussed at the June 3 Committee of the Whole and that adoption is tentatively scheduled for the June 17 business meeting.
Speakers at the hearing included the planning staff presenter and two in-person commenters recorded in the meeting minutes. The council did not vote on the ordinance at the May 6 meeting.
