The Salem-Keizer School Board will again consider exempting a Salem apartment complex from property taxes after the developer agreed to steps to keep apartments more affordable.
Board members will vote on 990 Broadway, LLC’s application to participate in Salem’s multiple unit housing tax incentive program. Salem city councilors approved the developer’s application last spring.
The property is a mixed use development including 23 apartments, 26 parking spaces and approximately 2,500 square feet of commercial space, according to the agenda item. The building is at 990 Broadway St. N.E.
The school board voted down the exemption in December, but Board Chair Osvaldo Avila and Vice Chair Ashley Carson Cottingham are now recommending the board approve the exemption following a meeting with the developer.
The developer, Cascade Warehouse Company, agreed to cap rent increases for 10 units at 5% per year and not to raise rents on other units more than 7% per year, even when larger increases would be allowed under state law, according to a letter from the developer.
The developer also agreed to lower the move-in deposit amount required for the units.
If the board approves the proposal, the developer would be exempt from all property taxes on the building for up to 10 years. Exempting the building won’t change the district’s tax revenue because the property is located in an urban renewal district.
Board members will also vote on creating a second vice chair position for the board who could fill in for the first vice chair or chair as needed. The position would be appointed by board leadership.
The board will vote on proclamations designating April child abuse prevention month and for 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 starts at 6 p.m. Tuesday, April 12. The meeting will be streamed on CC:Media, channel 21, and on YouTube at the links below.