Urban Politics #259: Multi-Family Tax Exemption Program
June 12th, 2008The Mayor has recently proposed changes to an important affordable housing program that would greatly undermine its effectiveness. This program, the Multi-Family Tax Exemption (MFTE) has helped produce 763 units of long-term, low-income housing since 2004. Under the new proposal, this program will 1) subsidize private developers to build units at essentially market rents, 2) expand the program to build units in neighborhoods that have already met growth targets and 3) raise rents and taxes for the rest of us to pay for it.
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