POL Government Elected Officials Auditor Griffin-Valade Charter, Code & Policies City Code & Charter Online Code & Charter Title 3 Chapter 3.103 Property Tax Exemption for Multiple-Unit Housing Development
3.103.040 Minimum Threshold Requirements.

In order to be considered for an exemption under this Chapter, an applicant must verify by oath or affirmation in the application that the project meets the following minimum threshold requirements:


A.  Financial need for the exemption


1.  Rental projects


a.  The project would not otherwise be financially feasible without the benefit provided by the property tax exemption.


b.  The applicant must submit proof that the anticipated internal rate of return for the project for the period of the exemption will not exceed 10 percent.


2.  For-sale projects


a.  Units receiving tax exemption will be sold to buyers meeting the affordability requirements contained in this Section.


B.  Property eligibility


1.  Projects must be located within identified Designated Plan Areas/Metro 2040 Centers, within a quarter mile radius of Max Station Areas, or within a quarter mile from either Metro 2040 Corridors with Frequent Transit Service or Metro 2040 Main Streets with Transit Service within the City ofPortland.


2.  Projects must conform to City ofPortland’s zoning and density requirements.


3.  Applications for tax exemption must be submitted and approved prior to application for the project’s building permit.


C.  Affordability


1.  For rental projects, during the term of the exemption, a minimum of 20 percent of the number of units must be affordable to households earning 60 percent or less of the area median family income, with possible allowance to have units affordable to households earning 80 percent or less of the area median family income based on the market for similar units in the same geographic area.  The units meeting the affordability requirements must match the unit mix in the project as a whole in terms of number of bedrooms.


2.  For projects containing for-sale units, those units receiving the exemption must not exceed the maximum price established under City Code Section 3.102.040 at initial sale and must sell to an initial homebuyer who income qualifies and occupies the unit as established under City Code Section 3.102.040.  During the term of the exemption, the unit must be occupied by a homebuyer as established under City Code Section 3.102.040.


D.  Equity


1.  Applicants must provide a plan to meet Portland Housing Bureau’s business equity goals for participation of Minority, Women, and Emerging Small Businesses (MWESB) in professional services and construction contracting and City workforce training and hiring goals.


2.  Applicants must describe their efforts to engage community stakeholders and integrate feedback in the project concept plan, including but not limited to: neighborhood impacts, plan for commercial tenants, the use of gathering and commercial space in the project, and outreach and marketing of residential units to target markets.


E. GreenBuilding.  The project must be built to meet healthy and energy efficient environmental building standards.

Title 3
Chapter 3.02 Council Organization and Procedure
Chapter 3.04 Subpoena Powers
Chapter 3.05 City Auditor's Audit Services Division
Chapter 3.06 Departments, Bureaus and Divisions Generally
Chapter 3.08 Treasurer
Chapter 3.10 Office of City Attorney
Chapter 3.12 Bureau of Transportation
Chapter 3.13 Bureau of Environmental Services
Chapter 3.15 Office of Management and Finance
Chapter 3.16 City Budget Office
Chapter 3.18 (Repealed)
Chapter 3.20 Bureau of Police
Chapter 3.21 City Auditor's Independent Police Review Division
Chapter 3.22 Portland Fire & Rescue
Chapter 3.24 Portland Water Bureau
Chapter 3.26 Bureau of Parks
Chapter 3.27 Portland Parks and Recreation Board
Chapter 3.28 Bureau of Health
Chapter 3.30 Bureau of Development Services
Chapter 3.32 (Repealed)
Chapter 3.33 Bureau of Planning and Sustainability
Chapter 3.34 (Repealed)
Chapter 3.36 Portland Housing Bureau
Chapter 3.38 Portland Housing Advisory Commission (PHAC)
Chapter 3.40 (Repealed)
Chapter 3.44 (Repealed)
Chapter 3.46 Bureau of Insect Control
Chapter 3.52 (Repealed)
Chapter 3.53 (Repealed)
Chapter 3.54 Loss Control and Prevention
Chapter 3.57 (Repealed)
Chapter 3.58 (Repealed)
Chapter 3.60 (Repealed)
Chapter 3.62 Boxing Commission
Chapter 3.64 (Repealed)
Chapter 3.66 (Repealed)
Chapter 3.67 Performing Arts Advisory Committee
Chapter 3.68 Formal Japanese Garden Commission
Chapter 3.70 Pittock Mansion Advisory Commission
Chapter 3.71 (Repealed)
Chapter 3.72 Committee on Claims
Chapter 3.74 Oaths of Office
Chapter 3.76 Public Records
Chapter 3.77 Office of the Ombudsman
Chapter 3.78 Acquisition of County Property for Park Purposes
Chapter 3.80 Special Permits
Chapter 3.82 Officer and Employee Bonds
Chapter 3.84 City Owned Motor Vehicle Accident Reports
Chapter 3.86 Golf Advisory Committee
Chapter 3.88 Investment Advisory Committee
Chapter 3.90 (Repealed)
Chapter 3.92 (Repealed)
Chapter 3.94 (Repealed)
Chapter 3.95 (Repealed)
Chapter 3.96 Office of Neighborhood Involvement
Chapter 3.98 Towing Board of Review
Chapter 3.99 Fair Wage Policies
Chapter 3.100 Equal Opportunity
Chapter 3.101 Property Tax Exemption for Low Income Housing Held by Charitable Non-Profit Organizations
Chapter 3.102 Property Tax Exemption for New Construction of Single-Unit Housing in Homebuyer Opportunity Areas
Chapter 3.103 Property Tax Exemption for Multiple-Unit Housing Development
Chapter 3.104 (Repealed)
Chapter 3.105 (Repealed)
Chapter 3.106 Exposition-Recreation Commission
Chapter 3.107 Water Quality Advisory Committee
Chapter 3.110 Bureau of Hydroelectric Power
Chapter 3.111 (Repealed)
Chapter 3.112 (Repealed)
Chapter 3.114 Office for Community Technology
Chapter 3.115 Mt. Hood Cable Regulatory Commission
Chapter 3.116 Waterways Advisory Committee
Chapter 3.120 (Repealed)
Chapter 3.122 Economic Improvement Districts
Chapter 3.123 Portland Utility Review Board
Chapter 3.124 Portland Bureau of Emergency Management
Chapter 3.125 Disaster Policy Council
Chapter 3.126 Emergency Management Steering Committee
Chapter 3.127 Bureau of Portland Fire and Police Disability and Retirement
Chapter 3.128 Office of Equity and Human Rights
Chapter 3.129 Human Rights Commission