Washougal has received its first application for a multi-family housing property tax exemption.
The application is from Rig-A-Hut LLC, of Washougal.
Kevin Cavenaugh, of Portland, is a registered agent with the corporation, and Lone Wolf Investments is an equity partner.
The project would involve construction of a 9,677-square-foot, two-story building, with three retail spaces on the first floor and nine residential lofts on the second floor, at the northwest corner of 20th and Main streets. Public art will be part of the east wall.
The project has received preliminary site plan approval from the city’s community development department.
The land is currently vacant. Lone Wolf Development, LLC, of Washougal, owns the property. Guerrilla Development would manage the project.
Cavenaugh owns Guerrilla. The development company has been involved in mixed-use projects in Northeast and Southeast Portland.
Wes Hickey, owner of Lone Wolf, said the amount that could be saved each year if the project is approved for a property tax exemption would depend on the assessed value of the residential portion of the project.
“On this project, it might be about $8,000 per year,” he said. “Under the current program that the city implemented, the abatement is for eight years after completion.”
A public hearing regarding the potential tax exemption will be held Monday, Oct. 24, during the Washougal City Council meeting at 7 p.m., in the council chambers at City Hall, 1701 “C” St.