Issaquah council sets April 15 public hearing for MFTE designation in Central Issaquah

The Issaquah City Council on March 18 approved a resolution to set a public hearing on April 15 to consider designating the Central Issaquah Pioneer Program area as a residential targeted area for the city’s Multifamily Tax Exemption (MFTE) program. The resolution passed 6-1.

Economic Development Manager Jen Davis Hayes and staff explained that the MFTE process involves a public hearing before an area designation can be adopted; staff said the MFTE being proposed for the Pioneer Program would apply to the residential portion of qualifying projects for an eight-year term and that units created under the program would carry lifetime affordability covenants. The resolution to set the hearing creates the opportunity for public testimony specific to MFTE-area designation; a subsequent council meeting will consider final adoption after the hearing.

What’s next: Staff will post hearing materials and the council will hold the public hearing on April 15; a final council vote on MFTE designation would be scheduled afterward if the administration pursues adoption.