SPOKANE, Wash. — City Council voted to build several new affordable housing units in Spokane’s East Central neighborhood on Monday night.
The units are part of a multifamily housing development meant to help offset the city’s housing shortage.
The affordable housing will be secured through the city’s multifamily tax exemption program, which incentivizes developers to build below-market-rate units by offering a short-term property tax break.
The program has already resulted in more than 2,600 affordable units.
“This really helps incentivize developers by giving them a short-term property tax exemption for the units that they provide that are less than market,” said Steve Macdonald, Spokane’s director of community and economic development.
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