Salem Metropolis Council is ready to vote Monday on whether or not to require condominium builders to incorporate an inexpensive housing part to qualify for tax incentives.
For many years, the A number of Unit Housing Tax Incentive Program has supplied a property tax exemption for as much as 10 years for brand new or transformed transit-supportive, non-transient multifamily housing items constructed inside the outlined core space that present a number of public advantages like improvement or redevelopment of an underutilized or blighted property.
This system offers a tax exemption just for town’s tax levy, however builders may also search tax exemption by different taxing districts just like the county and college district.
Metropolis officers mentioned that in working with these different taxing districts, they encountered a number of requests to require initiatives utilizing this system to incorporate an inexpensive housing part.
Final yr, the Salem-Keizer Public Colleges’ board of administrators shot down a request for tax abatement on a mixed-used housing development on 990 Broadway St. NE.
“It is a actually stunning housing complicated,” board vice-chairwoman Ashley Carson Cottingham mentioned on the time. “Nevertheless, I do not assume I can help a further 10-year property tax abatement as a result of the flats should not for low-income people, and there is not even a set-aside portion or small share to go to low-income people.”
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Salem Metropolis Council had beforehand accredited the complicated’s utility for a 10-year tax exemption. The Atrium flats had 23 items priced from $950 to $1,600, in response to metropolis paperwork.
With out the approval of the college board, proprietor Charles Weathers mentioned it will be a wrestle to get the complete abatement of property taxes for the residential portion of the constructing. He mentioned this might hurt his ability to keep rents affordable in the future.
Underneath the brand new decision, town would require any venture thought-about for this system to fulfill a brand new threshold for offering inexpensive housing.
If the venture comprises 50 or extra items of housing, the applicant will need to have at the least 15% of the items rented as inexpensive housing.
The brink is outlined as being inexpensive to households making 80% or much less of space median earnings as outlined by the Division of Housing and City Improvement.
According to HUD, this might imply a family earnings of $63,250 for a household of 4 within the Salem metropolitan space.
The company lists the Truthful Market Lease of a two-bedroom home within the area as $1,245.
At present, town requires complexes with 100 items or extra in this system to supply 15% of their items as inexpensive housing or meet at the least two “public profit standards,” reminiscent of redeveloping a blighted property.
The modification would scale back the 100-unit threshold to 50 and take away the “public profit” various.
Since 1976, 11 properties have been accredited by Salem Metropolis Council for the A number of Unit Housing Tax Incentive Program, together with the 157-unit complicated beneath building on the former Nordstrom constructing.
Council’s vote Monday might be adopted by second studying if the revision passes.
Different agenda gadgets embrace:
- A public listening to a few zone change on Industrial Avenue SE roughly between Superior Avenue S and McGilchrist Avenue SE to mixed-use II.
- Salem Airport industrial air service infrastructure replace.
- Navigation Heart finances appropriations.
- Within the Salem Housing Authority assembly, authorize closure on financing for the Sequoia Crossing inexpensive housing venture.
- Within the City Renewal Company assembly, adjustments to Riverfront and Fairview City Renewal Space venture finances and to the Fairview City Renewal Space plan and boundary.
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The assembly is at 6 p.m. It’s digital and may be watched on Comcast Cable CCTV Channel 21 or on the Salem YouTube channel in English/American Sign Language and Spanish.
Written public feedback on agenda gadgets may be emailed by 5 p.m. Monday to cityrecorder@cityofsalem.net. Or pre-register between 8 a.m. and a pair of p.m. Monday at cityofsalem.net/Pages/Public-Comment-at-Salem-City-Council-Meeting.aspx to talk throughout the assembly through Zoom.
This story contains reporting from Statesman Journal reporter Natalie Pate.
For questions, feedback and information ideas, electronic mail reporter Whitney Woodworth at wmwoodworth@statesmanjournal.com, name 503-910-6616 or comply with on Twitter @wmwoodworth
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