Why is the City rushing to create an MFTE in Midtown?

Discussions about affordable housing and incentives to provide and encourage the growth of affordable housing options have been underway in the City for several years and the Pilchuck District was already designated as an MFTE in 2011. The City has been reviewing options to ensure any  incentives are not too generous to a developer, resulting in what may be viewed as a “give-away.” Council and City staff have studied and are learning from other Washington communities that have implemented a successful MFTE program, and consulted with the Snohomish County Assessor and the Alliance for Housing Affordability to understand how affordable options would affect the City’s tax base and taxpayers. City leadership is also working to ensure transparent and open communication with the public about the proposed MFTE.

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1. What is a MFTE?
2. Does a MFTE designation create housing projects?
3. Does a MFTE increase taxes?
4. Why is the City rushing to create an MFTE in Midtown?
5. I bought my house in Snohomish 15 years ago and prices seemed affordable then. Why is the City talking about affordable housing?
6. Doesn’t affordable housing create blight?
7. How many 5-story mid-rise multi-family apartment or condo units that can be built per acre in Snohomish under an MFTE?
8. Why does Snohomish need a multi-family tax exemption for developers?
9. The Bottom Line about a future Midtown MFTE