The City is attempting to placate residents who want affordable housing with allowing the MFTE or Multi Family Tax Exemption. The suggested Capital Mall Sub Area Plan has a proposal to allow the MFTE for developers who will build 12 story buildings with affordable housing. This will not work. The City Planner stated in the past that anything over 7 stories is not cost effective. In other words, developers will not build 12 story buildings. Also all the new apartments in Downtown Olympia do not house families. The apartments are too small and too expensive for families. The Multi Family Tax Exemption should only apply to affordable housing. The Olympia City Council wants suggestions. My suggestion is to stop all MFTE tax exemptions except for affordable housing. If the City Council wants affordable housing, then build affordable housing. Quit blaming higher rents on a system the city is a party too. Previous City Council has claimed that if you build then "they" will come. Well people with money are coming and families are leaving.
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