The Lakewood Planning Commission will hold a public hearing Wednesday, Feb. 19 at 6:30 p.m. about proposed expansions to the Residential Target Areas where the city’s Multifamily Tax Exemption program could apply.
Two amendments to the Multifamily Tax Exemption program (MFTE) regulations are also proposed.
There are no proposed changes to the zoning or allowed uses within any MFTE-eligible area.
Proposed MFTE regulation amendments:
1. Allowing 12-year extension for Central Business District Residential Target Area if 20 percent or more of housing units are affordable to those making 80 percent area median income.
2. Clarification of MFTE application procedure regarding when application is due.
Proposed Residential Target Area Boundary expansions
The recommended Central Business District RTA boundary expansion is identified in pink on the map:
Other potential Residential Target Area expansion areas include:
- Central Business District: Expansion along Steilacoom Boulevard in Neighborhood Commercial 2 (NC2) and Multi-family 2 (MF2) zones and along Bridgeport Way in NC2 zone.
- Oakbrook: New Residential Target Area in NC2 zone.
- Springbrook: Expansion of Residential Target Area in NC2 zone between Bridgeport Way and San Francisco and west of True Lane.
- Tillicum: New Residential Target Area northwest of Union Avenue and multifamily areas in NC2 zone.
How to comment
The public hearing will be held at Lakewood City Hall in Council Chambers, 6000 Main Street SW. People can attend in person and provide comments at the meeting or join remotely and provide testimony via Zoom.
Written comments will also be accepted. Email comments to Karen Devereaux. The deadline to submit written comments is Feb. 19 at noon. Full materials and additional instructions on how to participate in the hearing will be published by Feb. 14 at on the Planning Commission page of the city’s website under “Meetings” then “2025”.
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