The Bottom Line about a future Midtown MFTE

Rapid growth in the city and county has made housing rapidly unaffordable for young adults and families. The objective of adopting a MFTE is to provide affordable housing options for future generations to ensure the city remains vibrant, resilient, and retains the community’s reputation for providing a wonderful quality of life. It is also to provide an incentive to developers to build multi-family units in the Midtown District, which would increase the multi-family housing stock and add to the housing options available in the city, while stimulating development in the Midtown District.

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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