A three-story mixed-use project coming to downtown Camas will receive a 12-year tax abatement thanks to the owner’s inclusion of affordable housing units.
The Camas City Council unanimously approved the tax abatement Monday during the Council’s regular meeting.
In her staff report to Council recommending approval of the tax abatement, Camas Senior Planner Sarah Fox said the 33,000-square-foot building at Northeast Sixth Avenue and Northeast Birch Street will have ground-level commercial/retail space while the upper two floors will have 30 residential units, including six units reserved for affordable housing for moderate income households.
The city’s multi-family housing tax exemption code allows eight- to 12-year tax abatements for private, multi-family developments and redevelopments in the city’s downtown district “to accommodate future population growth, provide places to live close to employment, shopping, entertainment and transit services and encourage affordable housing where appropriate.”
The definition of “affordable housing” for the city’s multi-family tax-abatement program means housing costs, including monthly utilities other than telephone costs, are 30 percent or less than the household’s monthly income.