421 SW 6th Avenue, Suite 500, Portland, OR 97204
On February 3, the Portland Housing Advisory Commission (PHAC), the advisory group to the Portland Housing Bureau (PHB), will hold a public hearing on a project application for the Multiple-Unit Limited Tax Exemption (MULTE) Program, scheduled to go before City Council in March.
The project site is located in the Boise neighborhood within the Interstate Corridor Urban Renewal Area and will provide 29 affordable rental units within a market rate, mixed-use development. The Boise neighborhood is one of several in Northeast Portland that have been heavily impacted by displacement and is one of the City of Portland’s priority areas for affordable housing development. The North and Northeast Portland community has called for more affordable housing options as well as mixed-use developments to support and retain local businesses. Tax exemptions such as the MULTE are intended to encourage private developers to include affordable units and other public benefits in planned projects.
A second application round in 2014 for the MULTE Program opened last October. The selected application provides sufficient public benefits to meet the program requirements and the applicant has further committed to conducting outreach through area businesses, churches, and community organizations to ensure the local community has an opportunity to access the new affordable housing when the units become available. The application will be presented to City Council for final approval on March 4. If approved, the project will receive a 10-year tax exemption on the assessed value of the residential structural improvements (property taxes on the assessed value of the land will still be paid by the owner.)
If you wish to provide public testimony at the PHAC hearing about the MULTE application, you may sign up at the beginning of the meeting.