Item A: Multi-Unit Property Tax Exemption Program

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Attachment C Comparative Summary: Eugene MUPTE and Portland MULTE Program Purpose EUGENE MUPTE PORTLAND MULTE  Stimulate construction of transit supportive multi-unit housing Stimulate the construction of transit supportive multi-unit housing downtown in order to improve the balance between residential and in the core areas of urban centers to improve the balance between commercial, ensure use of areas as places for live and work. residential and commercial.  Encourage development of vacant or under-utilized sites downtown. Ensure use of the areas places for live and work.  Encourage development of multi-unit housing with or without parking Promote private investment in transit supportive multi-unit in structures that include ground floor commercial, on sites with single housing in light rail station areas and transit oriented areas in story commercial structures, and on existing surface parking lots. order to maximize the transit investment to the fullest extent possible. Preserve existing publicly assisted affordable housing.  Establish and design programs to attract new development of Result in the preservation, construction, addition, or conversion of multi-unit housing, commercial, and retail in areas located within units at rental rates or sale prices assessable to a broad range of the light-rail and transit oriented areas. general public.  Stimulate the construction of affordable housing and other public benefits where such housing and benefits may not otherwise be made available.  Leverage market activities to advance housing and economic prosperity goals. Analysis/Comments Although both programs have similar goals related to transit-oriented development, Portland has taken a more aggressive approach by o including downtown and many other areas throughout the City including light rail areas and transit-oriented corridors. Existing Eugene MUPTE boundary = approx. 0.50 square miles; Existing Portland MULTE boundary = approx. 17 square miles. o Because the Portland rental real estate market has experienced significant strengthening (higher rents are more capable of supporting the o cost of new construction), the program has shifted its purpose to mandate that new affordable housing units are created in every eligible project.