Doing the Math: MFTE Creates Many More Housing Units Than Grand Bargain
Let’s take a super quick look at a couple projects that participated in the City’s Multifamily Tax Exemption (MFTE) Program, a very successful program that has produced thousands of units of rent restricted housing for people earning between 60 and 80 percent of Area Median Income (AMI). The MFTE works by giving a property tax […]
City Doesn’t Want 100 Percent Participation in MFTE
The City of Seattle has a mystifying but ultimately understandable attitude toward one of it’s most successful housing programs, the Multifamily Tax Exemption (MFTE) Program. The MFTE program has efficiently created thousands of units of rent restricted housing by reducing property taxes on a new housing project and that deferred tax is passed on to […]
The Lawyers: Linkage is Illegal but What About the Bargain Part 2
Yesterday, I posted the text of a letter signed by a group of respected land use lawyers concerning linkage taxes. They thought linkage was illegal and said so in a very bold statement. But how do their comments apply to the Mandatory Inclusion Zoning (MIZ) element in the Grand Bargain. I’ve gone through the letter […]
