city of tacoma
File #: RES40866    Version: 3 Name: RES - GPFC Recommendation for MFTE
Type: Resolution Status: Adopted
File created: 11/4/2021 In control: City Council
On agenda: 11/9/2021 Final action: 11/9/2021
Title: A resolution supporting the proposed changes to the Multi-Family Property Tax Exemption ("MFTE"), as recommended and approved by the Government Performance and Finance Committee; amending the City's MFTE to align with state law; eliminating the eight-year MFTE in mixed-use centers designated "very high" opportunity based on the City's Equity Index; requiring the City Council to revisit the changes to the MFTE program in three years; and directing the City Manager to explore other changes to enhance the City's use of the MFTE. [Council Member Hines]
Sponsors: John Hines, Lillian Hunter, Robert Thoms, Kristina Walker
Attachments: 1. Resolution No. 40866, 2. City Council Action Memorandum, 3. MFTE Roundtable Discussion, 4. GPFC Motions and Voting Record, 5. Map, 6. Amended Resolution No. 40866

Title

A resolution supporting the proposed changes to the Multi-Family Property

Tax Exemption (“MFTE”), as recommended and approved by the Government

Performance and Finance Committee; amending the City’s MFTE to align

with state law; eliminating the eight-year MFTE in mixed-use centers

designated “very high” opportunity based on the City’s Equity Index;

requiring the City Council to revisit  the changes to the MFTE program

in three years; and directing the City Manager to explore other changes

to enhance the City’s use of the MFTE.

[Council Member Hines]