The eventual owners of 279 proposed residences in Kendall Yards will not have to pay property taxes on the new townhouses, condos and apartments for 12 years.
The Spokane City Council on Monday voted 5-0 to accept Greenstone Corp.’s application for multifamily tax exemptions on the portion of Kendall Yards west of Maple Street. Kendall Yards is a 78-acre development west of Monroe Street, just north of the Spokane River. Greenstone estimates that 68 percent of the 279 units will be aimed at families that earn 120 percent or less of the median income in Spokane County.
The exemption program is aimed at encouraging residential growth in several neighborhood centers.