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Item A: MUPTE Program
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CC Agenda - 06/24/13 Work Session
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Item A: MUPTE Program
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6/21/2013 2:11:02 PM
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6/21/2013 11:38:26 AM
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City Council
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Agenda Item Summary
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6/24/2013
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ATTACHMENT B <br />Alternative MUPTE Criteria <br />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 /> <br /> <br />Downtown Plan Area only <br />R <br /> <br />Limited, targeted area expansion (Examples: Trainsong, S. Willamette, Walnut <br />R <br />Station) <br /> <br />Eliminate Downtown Plan Area and focus MUPTE in economically <br />R <br />disadvantaged areas <br /> <br /> Project Need <br /> <br /> <br />Cap the rate of return for the project exceed at 9 percent <br />R <br /> <br />Claw-back at the end of the tax exemption in the event that the overall rate of <br />R <br />return exceeds the cap, and dedicate claw-back funds to affordable housing <br /> <br />Use third-party professional (instead of panel) to review financial pro forma <br />R <br /> <br /> Green Building <br /> <br /> <br />Do not include as Minimum Threshold Criteria, but include in Additional Public <br />R <br />Benefit Criteria <br /> <br /> Affordable Housing <br /> <br /> <br />During the period of exemption, a minimum of 20% of the number of dwelling <br />R <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 /> <br />Increase the affordable housing fee to ___% (substitute percentage) <br />R <br /> <br /> Local Hiring and MWESB Goals <br /> <br /> <br />Require that a specific percentage of local hiring be met to be eligible for the tax <br />R <br />exemption <br /> <br /> Financial Reporting <br /> <br /> <br />The financial information will be used to calculate a claw-back payment at the <br />R <br />end of the tax exemption. <br /> <br />
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