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Committee backs short extension of Seattle MFTE program and 12‑year renewal option for expiring properties
Summary
The committee voted 4–0 to recommend passage of Council Bill 1200943, extending the Multifamily Tax Exemption program sunset to Sept. 10, 2025, and authorizing 12‑year extensions for certain properties whose MFTE terms expire in 2025.
The Seattle City Council Housing and Human Services Committee voted Feb. 26 to recommend passage of Council Bill 1200943, legislation to amend the multifamily tax exemption (MFTE) program, extend the program sunset date and allow certain buildings with MFTE expiring in 2025 to receive an additional 12‑year tax exemption.
The committee voted 4–0 to forward the bill to the March 4 full City Council meeting. Chair Kathy Moore moved the passage recommendation; the motion was seconded and approved on a roll call of Council President Nelson (aye), Council Member Rink (yes), Council Member Saka (aye) and Chair Moore (aye).
Office of Housing Director Michael Winkler Chin, accompanied by Kelly Larson and Tracy Ratliff, presented the proposed changes, described in the…
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