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Council Passes Moratorium on Apartment Property Tax Exemptions

PORTLAND-The City Council here follows up its first denial of a 10-year property tax abatement application for a new multifamily development by passing a six-month moratorium on all new applications while it reviews the program's goals and fiscal impact.

By Brian K. Miller | Updated on October 19, 2005

(To read more on the multifamily market, click here.)

PORTLAND-The Portland City Council on Wednesday unanimously passed a six-month moratorium on all applications related to the city’s property tax exemption program for new apartment developments that make at least 15% of their units affordable to people making less than 80% of median income. The vote follows last month’s denial of an application by Trammell Crow Residential for a 22-story, 319-unit project that would have been the first apartment building in the South Waterfront, where thousands of mostly for-sale units are planned. It was the first time the Council had ever denied an application that met the minimum requirements.

The moratorium directs the city’s Bureau of Planning in consultation with the Portland Development Commission, City Council offices, and community stakeholders to review the policy goals of the program, the fiscal impact of the program, and the list of public benefits, and then present recommendations to the Council within 180 days. “We were trying to do what we thought the city was asking us to do, to deliver housing diversity,” TCR’s local executive Robert Hinnen told GlobeSt.com after the council denied the company’s application in August. “Unfortunately, the city changed their minds; they apparently do not care about that diversity anymore.”

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