Item A: Multi-Unit Property Tax Exemption Program

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Application Review and Scoring of Public Benefits • Annual cap – PHB will approve no more than $1 million of estimated and projected foregone revenue each year. Properties located in eligible areas within the Gateway and Lents Urban Renewal Areas are exempt from the cap. • Time frame – PHB will have an annual open application window through a competitive process. The first application round is expected to start on August 15, 2012. Applicants will have 45 days to submit an application for review. Approved exemptions will go into effect July 1 of the assessment year in which construction was completed, but no earlier than July 1, 2014. • Threshold requirements – Applications will be reviewed to determine if the program minimum threshold requirements are met and if there is a financial need for the exemption. Projects meeting the minimum threshold requirements will be weighed for the largest benefits to the city. • Public Benefits – Applicants must commit to providing public benefits to the community and will receive points for the level of commitment made, allowing them to compete against other applicants. Projects must achieve a minimum score to reach a “medium” level in the scoring in order to be competitive. The possible public benefits include but are not limited to the following: Priority points for: • Affordability in addition to threshold requirement, balanced with market rents (rental projects ) or sale prices (for-sale unit) in the area; • Applicant’s demonstration in the MWESB and Affirmative Marketing Plans of how the project will help PHB achieve the vision contained in PHB’s “Guiding Principles on Equity and Social Justice” through partnerships with community based organizations, the use of any commercial space, etc.; and • Units accessible to persons with special needs, such as the mentally or physically disabled or other categories of persons as defined by the Federal Fair Housing Amendments Act of 1988 in addition to ADA and Fair Housing minimum requirements (i.e. all units “accessible ready”, a portion of or all units fully “accessible”, and incorporation of established accessible design features, such as Universal Design, at both unit and site level.) Bonus points available for: • Family sized units (2+ bedrooms) in areas lacking housing units with two or more bedrooms (as defined in a map attached as Exhibit 2) with appropriate family friendly amenities (family oriented recreational facilities for the children of project residents such as secure on-site play area, on-site garden area, etc.); • Access to grocery stores, schools, day care, etc. (within ¼ mile); • Quality gathering space (exterior or interior) available to the community at large (on-going or by reservation) such as permanent dedications for public use including open space, community gardens, or pedestrian and bicycle connections to public trails and adjoining neighborhood areas; and • A portion of units reserved for and an established partnership with an agency to provide services to vulnerable populations (i.e. youth who have transitioned or are transitioning out of foster care, women fleeing domestic violence, veterans). • PHIC Review – The PHB Housing Investment Committee will confirm the projects selected based on the scoring of the public benefits. • Application fee – Applicants must pay PHB an application fee (to be established annually, including the fee to be paid to Multnomah County) for each selected application. • Public hearing before PHAC – PHB will present the selected applications to the Portland Housing Advisory Committee at a public hearing, for which public notice will be given and public testimony will be heard. • URA approval – For properties located in Urban Renewal Areas, PHB will contact Portland Development Commission (PDC) for approval prior to approval of the application. Application Approval