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The Portland Housing Bureau (PHB) strives to solve the unmet housing needs of the people of Portland. One way they do this is by offering programs to promote the creation of affordable homes. PHB is currently inviting applications for the Multiple-Unit Limited Tax Exemption (MULTE) Program.
MULTE Program projects receive a 10-year tax exemption on structural improvements to the property as long as program requirements are met. Requirements include at least 20 percent of units rented to households earning no more than 60 to 80 percent of median family income, depending on the area. The MULTE Program offsets developers’ operational costs while creating affordable units in market rate projects.
“Housing prices are rapidly increasing and we want to ensure that all Portlanders can afford a place to live. This is a valuable tool to keep Portland affordable for hardworking families,” said Housing Commissioner Dan Saltzman.
MULTE awards are made using a competitive selection process. PHB selects recipients based on their commitment to providing public benefits with their projects. This includes affordability, accessibility features for seniors and people with disabilities, partnerships with organizations reaching vulnerable or disadvantaged communities and minority contracting goals.
PHB anticipates additional tax exemption availability within the current application cycle. We welcome inquiries for both the current MULTE application and upcoming cycle, available in the early spring of 2014. Developers with prospective projects should contact Dory Van Bockel, LTE Program Coordinator, at email@example.com or 503-823-4469. Information on the MULTE program is available at www.portlandoregon.gov/phb/MULTE.
Media Contact: Jaymee Cuti, Portland Housing Bureau, 503-823-3239, Jaymee.Cuti@portlandoregon.gov