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421 SW 6th Avenue, Suite 500, Portland, OR 97204
On Tuesday, February 2, the Portland Housing Advisory Commission (PHAC), the advisory group to the Portland Housing Bureau (PHB), will hold a public hearing to discuss an application being considered for approval for the Multiple-Unit Limited Tax Exemption (MULTE) Program. This isthe last application from 2015 to be considered.
The Sitka Apartments, located in the Pearl District, is eligible for an extension of the tax exemption it is currently receiving. Of the Sitka’s 209 units, 203 have rents restricted between 50% and 60% of area median income (currently about $29,000-$35,000 per year for a two-person household). The extended tax exemption will apply to the affordable portion of the project.
MULTE tax exemptions are intended to encourage private developers to include affordable units and other public benefits in their projects. The MULTE Program also allows for extensions of existing tax exemptions for the affordable portion of a project.
The hearing will be part of the regular monthly PHAC meeting, which is scheduled for Tuesday, February 2 from 3:00 to 5:00 pm at the Portland Housing Bureau offices, located in Downtown Portland at 421 SW 6th Ave, Suite 500. If you wish to provide public testimony, please sign up at the beginning of the meeting.