A review of the LTE programs was completed in February 2012 by a Policy Review Committee that included public and private sector members knowledgeable about the programs. The Committee recommended program changes that have been extensively reviewed by a wide diversity of stakeholders before being finalized in July 2012.
The Revised LTE Pilot Program will be in place for three years. The revised programs will be monitored and evaluated during the pilot period and adjustments to the program will be considered based on a review of the approved projects, project outcomes and the Comprehensive Plan Update.
The new single-unit housing LTE Program replacing the Single Family New Construction (SFNC) LTE Program is called the Homebuyer Opportunity Limited Tax Exemption (HOLTE) Program and goes into effect August 1, 2012. Portland City Council approved new City Code, Chapter 3.102 and Administrative Rules for the program. The program is administered consistent with the statutory authority described in ORS 307.651.
The multiple-unit housing LTE Program replacing both the Transit Oriented Development (TOD) and New Multiple Unit Housing (NMUH) Limited Tax Exemption Programs is called the Multiple-Unit Limited Tax Exemption (MULTE) Program and goes into effect August 1, 2012. Portland City Council approved new City Code, Chapter 3.103 and Administrative Rules for the program. Below is a summary of the MULTE program. Please see the Code and Administrative Rules for complete rules and guidelines. The program is administered consistent with the statutory authority described in ORS 307.600.