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Item C: MUPTE Program
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Item C: MUPTE Program
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6/17/2013 2:52:51 PM
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6/17/2013 2:39:15 PM
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Agenda Item Summary
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6/17/2013
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ATTACHMENT B <br />Alternative MUPTE Criteria <br />The following were not included in the City Manager's recommendation, but were mentioned in <br />previous council discussions. They are listed for reference as alternative criteria which could be <br />substituted are added to the recommendation. <br />MINIMUM THRESHOLD CRITERIA <br />• Eligible Boundary <br />• Downtown Plan Area only <br />• Limited, targeted area expansion (Examples: Trainsong, S. Willamette, Walnut <br />Station) <br />o Eliminate Downtown Plan Area and focus MUPTE in economically <br />disadvantaged areas <br />• Project Need <br />• Cap the rate of return for the project exceed at 9 percent <br />• Claw -back at the end of the tax exemption in the event that the overall rate of <br />return exceeds the cap, and dedicate claw -back funds to affordable housing <br />• Use third -party professional (instead of panel) to review financial pro forma <br />• Green Building <br />o Do not include as Minimum Threshold Criteria, but include in Additional Public <br />Benefit Criteria <br />• Affordable Housing <br />• During the period of exemption, a minimum of 20% of the number of dwelling <br />units must be affordable to households earning 60% of the area median family <br />income upon initial occupancy of the unit by that household. <br />• Increase the affordable housing fee to % (substitute percentage) <br />• Local Hiring and MWESB Goals <br />o Require that a specific percentage of local hiring be met to be eligible for the tax <br />exemption <br />• Financial Reporting <br />o The financial information will be used to calculate a claw -back payment at the <br />end of the tax exemption. <br />
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