Public Hearing:
Tax Exemption Applications for 7 New Rental Projects
On Tuesday, June 7, the Portland Housing Advisory Commission (PHAC), the advisory group to the Portland Housing Bureau (PHB), will hold a public hearing to discuss six new applications being considered for approval for the Multiple-Unit Limited Tax Exemption (MULTE) Program, as well as a request to restructure a previously approved application.
The six new applications includes four projects in Northwest Portland, one in St Johns and one in Southeast Portland, for a total of close to 500 new units (100 of which will be affordable to households earning no more than 60% or 80% of median family income) combined.
The discussion will also include a request to restructure a previously approved application for the Vancouver Avenue Apartments in N/NE Portland. The change will increase the level of affordability restrictions from 60% to 80% of median family income.
Tax exemptions such as the MULTE are intended to encourage private developers to include affordable units and other public benefits in their projects. PHB administers the MULTE program and can approve up to $3 million of new tax exemptions per year.
The hearing is scheduled for Tuesday, June 7 from 4:25 – 4:55 pm during the monthly PHAC meeting at the Portland Housing Bureau offices in Downtown Portland, located at 421 SW 6th Ave, Suite 500.
For questions about the MULTE program, click here or contact Dory Van Bockel by email or phone 503-823-4469.
