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Albany holds final hearing on multiunit property tax exemption; council debates public-benefit standards
Summary
At a public hearing on Oct. 22, Albany staff presented a proposed multiunit property tax exemption (MUPTI) program to encourage housing near transit; councilors debated the number and scale of required public-benefit commitments and moved to read an ordinance by title while leaving final adoption to a later meeting.
The Albany City Council held a public hearing Oct. 22 on a proposed multiunit property tax exemption program designed to encourage development of multiunit housing near transit and amenities.
Staff presenters Sophie Adams (economic development) and Matthew Rickers (community development) outlined program eligibility requirements tied to state law: projects must be within a quarter-mile of fixed-route transit, create or convert at least five dwelling units, complete construction within five years and before Jan. 1, 2032, and undergo a third-party…
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