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Charlotte’s biggest source of funding for affordable housing projects could soon run dry, as a City Council committee voted Wednesday to move forward with its biggest-ever round of new projects. It’s the latest step in the city’s push to create or preserve 5, 000 affordable housing units over three years, a goal City Council voted to adopt in the wake of the Keith Scott shooting and subsequent unrest last year. City staff said Wednesday that the city is almost halfway to that goal, though the total includes rehabilitated residences and down payment assistance for homebuyers, in addition to brand-new affordable units . The allocations from Charlotte’s Housing Trust Fund that the committee voted to move forward with Wednesday will provide financing for 769 new, income-restricted apartments in five buildings, though the projects also need approval for federal low- income housing tax credits . The aggressive approach to spending could build more apartments faster, but it will leave...

Hoping to tie a surging demand for more apartment units in Spokane with a desire for density, the Spokane City Council approved changes to a city tax law this week aimed at spurring construction of more multifamily housing structures . The changes to the Multiple Family Housing Tax Exemption expand the boundaries where the exemption can be used, and aligns the boundaries with land identified by the city to be prime for denser development. The changes also increase the income levels required under the exemption. “This will help us to continue building the city from the core out,” said Councilwoman Candace Mumm . The exemption applies to the construction or rehabilitation of a building that has four or more living units. Under the exemption, the land is fully taxed, but any new improvements related to housing are exempt from property taxes. After the exemption ends , taxes are paid on the property’s full value. The exemption stays with the property even if it’s sold. There are many ...