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June 19, 2008

City may expand tax breaks for developers

  • Opponents say it's just a developer giveaway that could encourage depleting the city's affordable housing stock.
    • By SHAWNA GAMACHE
    Journal Staff Reporter

    A tax break housing developers get for reserving some units for lower income people could soon be extended to higher priced units.

    A Seattle City Council committee voted Wednesday in favor of extending the multi-family tax exemption to units reserved for people making 80 and 90 percent of median income. Projects in another 22 neighborhoods would be eligible for the tax breaks.


     
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