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Committee considers expanding sales-tax deferral to more underutilized parcels to spur housing
Summary
SB 5884 would broaden a 2022 sales-and-use tax deferral program beyond parking-lot conversions to include vacant and underutilized land and allow cities to approve projects with 20%–50% affordable set-asides in designated areas; city officials and development authorities described ongoing projects and urged changes to broaden eligibility and clarity.
Committee staff told lawmakers on Jan. 14 that SB 5884 would expand a 2022 tax-deferral program so more underutilized urban parcels can be redeveloped for affordable and workforce housing.
Melissa Van Gorkum, committee staff, briefed members that the original 2022 program allowed cities between 135,000 and 250,000 population to authorize a deferral for investment projects on surface parking lots if the project set aside at least 50% of units as affordable and maintained that use for 10 years. The bill before the committee would expand the definition of eligible property to include vacant, partially used or underutilized land as…
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