TOD Tax Credit Expanded, but Under Review

Portland City Council is reviewing a number of its tax abatement programs. In fact, there is now a moratorium on the multi-unit housing abatement.

The abatement for Transit-Oriented Develop is also being reviewed, but is still available. In fact, the eligible areas have been expanded to include more Light Rail stations.

The TOD program is not under a moratorium. It is currently available in light rail station areas (not Interstate) outside the Central City, the Gateway Regional Center, the Hollywood and Lents Town Centers, and the Northwest plan district. It is, however, a very similar program and is included in this review.

On June 27th, the Planning Commission approved the staff proposal for changes to the TOD program boundaries to include all light rail station outside the Central City (Interstate and I-205), as well as MLK, and portions of Sandy and Foster. They also approved some updates to the public benefits list and approval process. The program will be brought before the City Council later this summer.

For more information about the proposed changes to the TOD Tax Exemption, as well as the resolution to extend the NMUH Tax Exemption program visit http://www.pdc.us/housing_serv/hsg_development/multi-lta.asp.

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