Seattle Poised to Overhaul MFTE Housing Affordability Program, Despite Tenant Concerns

The Seattle City Council is set to greenlight a new iteration of the Multifamily Tax Exemption (MFTE) program with higher allowed rents and rent hikes. The program trades a property tax break for setting aside a quarter of the units with lower rents, but some advocates say the new rent structure is misaligned and will hurt tenants.