PLUSH Committee supports City staff’s recommended MFTE updates
Date postedJanuary 8, 2026
Bellevue is facing a tough development environment, higher interest rates, elevated construction costs, and feasibility challenges that make many multifamily projects difficult to finance and build. In that context, the Bellevue Chamber’s PLUSH Committee submitted the following letter to Mayor Malakoutian and the Bellevue City Council in support of City staff’s recommended updates to the Multifamily Tax Exemption (MFTE) program. We strongly support the Wilburton MFTE “supercharger,” proposed transit-oriented parking reforms, and continued consideration of 12-year MFTE extensions as part of a balanced approach to preserving feasibility while expanding housing options in Bellevue.
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The Seattle Times editorial board is weighing in on the statewide payroll tax proposal.
Bellevue Chamber President & CEO Joe Fain: “In practical terms, this means taxpayers and employers from every corner of Washington would be directly subsidizing the City of Seattle’s budget.”
Read the editorial: https://lnkd.in/g-MttGZa
Bellevue Chamber President & CEO Joe Fain: “In practical terms, this means taxpayers and employers from every corner of Washington would be directly subsidizing the City of Seattle’s budget.”
Read the editorial: https://lnkd.in/g-MttGZa
Read more
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3 minutes ago
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Read more: https://lnkd.in/g8Uv_wD4
As we evaluate the legislation, we’re focused on affordability impacts for families and employers, whether outcomes are tangible in communities, and how the policy affects long-term budget sustainability and Washington’s competitiveness.
Chamber President & CEO Joe Fain also flagged several structural issues that need closer review, including treatment of pass-through entities, charitable deductions, a potential marriage penalty, and interactions with other state tax policies.
Read more: https://lnkd.in/g8Uv_wD4
Read more
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