Spokane City Council Urban Experience Committee Agenda Packet 2026-05-18
Pavement to People tax deferral for 2002 N Monroe
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Description
The City of Spokane is entering into a Pavement to People sales and use tax deferral conditional agreement with Millennium Monroe LLC for redevelopment of 2002 N Monroe into 43 mixed‑income housing units. The agreement provides a state tax deferral incentive in exchange for long‑term affordable housing commitments and annual reporting.
Contract Details
Vendor
MILLENNIUM MONROE LLC
Agency
City of Spokane, WA
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
Project must be completed within three years from application date, with potential extension up to 24 months; sales and use tax deferral and reporting obligations last 10 years from certificate of occupancy
Renewal Info
Tax deferral is contingent on project completion within three years (plus any approved extension up to 24 months) and annual compliance reporting for ten years from issuance of the certificate of occupancy; early change in use can trigger repayment of deferred taxes.
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