The Salem-Keizer School Board will again consider exempting a Salem apartment complex from property taxes after the developer agrees to take steps to keep apartments more affordable.
Council members will vote on 990 Broadway, LLC’s application to participate in the Salem Multiple Dwelling Tax Incentive Program. Salem city councilors approved the developer’s application last spring.
The property is a mixed-use development comprising 23 apartments, 26 parking spaces and approximately 2,500 square feet of retail space, depending on the agenda item. The building is at 990 Broadway St. NE
The school board rejected the exemption in December, but board president Osvaldo Avila and vice-president Ashley Carson Cottingham are now recommending that the board approve the exemption following a meeting with the developer.
The developer, Cascade Warehouse Company, has agreed to cap rent increases for 10 units at 5% per year and not to increase rents for other units by more than 7% per year, even when larger increases are allowed by law. state law, according to a letter from the developer.
The developer has also agreed to reduce the amount of move-in deposit required for the units.
If council approves the proposal, the developer would be exempt from all property taxes on the building for up to 10 years. Exempting the building will not change the neighborhood’s tax revenue because the property is located in a neighborhood undergoing urban renewal.
Board members will also vote on creating a second vice-chair of the board who could replace the first vice-chair or chair as needed. The position would be appointed by the board leadership.
The council will vote on proclamations designating April Child Abuse Prevention Month and Teacher Appreciation Week.
They will also consider a new contract for Howard Street Charter School and hear a report from District Superintendent Christy Perry.
The virtual meeting begins at 6 p.m. on Tuesday, April 12. The meeting will be broadcast on CC:Media, channel 21, and on YouTube at the links below.