The Portland Housing Bureau is opening a second application period for 2014 for the Multiple-Unit Limited Tax Exemption Program.Read More…
421 SW 6th Avenue, Suite 500, Portland, OR 97204
The MULTE application is a competitve process that occurs annually. The first application round opened on August 15, 2012 with an application deadline of October 1, 2012. Applications were reviewed by PHB staff in consultation with Bureau of Planning and Sustainability (BPS) staff to confirm that minimum threshold program requirements are met and that the projects provide sufficient public benefits (as program requires). Final applications were approved by City Council in Decemeber 2012.
PHB will approve no more than $1 million of estimated and projected foregone revenue each year. Properties located in eligible areas within the Gateway and Lents Urban Renewal Areas are exempt from the cap. Applications meeting the below threshold requirements will be scored by PHB based on the additional public benefits the projects will provide.
Selected projects will go forward with the approval process and must pay an application fee to PHB, which is established annually -- currently $11,000 (including the $6000 fee due to Multnomah County). The approval process includes review by the PHB Housing Investment Committee (PHIC), a public hearing before the Portland Housing Advisory Commission (PHAC), and final approval through City Council in late January or early February. Approved exemptions will go into effect July 1 of the assessment year in which construction was completed, but no earlier than July 1, 2014.