Shoreline council meeting Sept 13 - two study items

Shoreline City Council

The agenda for the September 13, 2021 Shoreline City Council Meeting includes the following two study items:

Item 8(a) Discussion of Ordinance No. 944 – Amending Ordinance No. 776 and Ordinance No. 694 Amending Shoreline Municipal Code Chapter 3.27 for Property Tax Exemption Conditions Within the Light Rail Station Subareas and Within the Multifamily Tax Exemption (MFTE) Areas

The Multifamily Property Tax Exemption (MFTE) program is the City’s main affordable housing program. The MFTE program provides for a 12-year property tax exemption on new housing construction and improvements. This does not exempt the land valuation or non- housing-related improvements from taxation. For a development to qualify for the MFTE program a project must be multifamily housing development with at least 20% of the units meeting the affordable housing definition in Shoreline Municipal Code (SMC) Chapter 3.27.020. SMC 3.27.040(D)(2) allows for applications to the MFTE program until December 31, 2021 in the City’s light rail station areas. The light rail station areas are the only residential target areas (RTAs) in Shoreline to have a MFTE sunset date. To date, no multifamily buildings have been completed in the light rail station areas.

The purpose of this discussion is to consider options to maintain, repeal, or extend the MFTE sunset in the light rail station area residential target areas; adoption of a 20-year MFTE program; and adoption of a 12-year MFTE contract extension.

Item 8(b) Discussion of Proposed American Rescue Plan Act (ARPA) Capital Funding Allocation Update

The American Rescue Plan Act, which was signed into law by President Biden on March 11, 2021, is a $1.9 trillion economic stimulus bill. The City of Shoreline was awarded $7,533,842 and will receive the funds in two tranches. The first tranche was received in August 2021 and the second will be received in August 2022. At the June 14, 2021 City Council meeting, the Council agreed with the City Manager’s overall recommended targeted allocations and additional focus areas were discussed. Staff recommends that the City Council provide feedback on the staff recommendation on these additional capital projects to use a portion of the City’s ARPA funds.

Full agenda and instructions for participating in the meeting HERE

--Pam Cross