2015/02/18 Council Agenda Packet

11.There has been a substantial growth in employment at Providence Regional Medical Center at Everett located just west of the Broadway corridor since the recent expansion of hospital facilities at the medical center. 12.There has been very little multiple family housing developed within the north Broadway corridor in the past 30 years. 13. The City established the Multiple Family Property Tax Exemption program in 1998 to encourage residential redevelopment in the downtown urban center,which has resulted in the construction of nearly 1,000 housing units in an area that had experienced little housing development in the preceding twenty years prior to the creation of the program. • 14.RCW 84.14.010 defines areas eligible for designation as"urban centers"where the Multiple Family Property Tax Exemption is intended to be used to stimulate housing development in.targeted areas where a mix of uses and adequate urban infrastructure exists. • 15.The privately owned properties located within the BMU zoned areas north of 13th Street lack sufficient desirable residential housing despite the need for additional student and non-student housing that exists in the area. 16.The City has been asked by Everett Community College and by a private property owner and housing developer to expand the City's Multiple Family Property Tax Exemption program to the north Broadway area near Everett Community College in order to make redevelopment of multiple family housing within the corridor more viable. 17.Expanding the eligible area•for the Multiple Family Property Tax Exemption program.to include the compact area in close proximity to the colleges will create a financial incentive to develop quality housing and affordable housing provided by the standards of EMC Chapter 3.78. 18.The area proposed to be included in the Multiple Family Property Tax Exemption program is limited to existing commercial or institutional zoning within walking distance of the existing college campus. 19.The area proposed to be included in the Multiple Family Property Tax Exemption program includes the Everett Transit College Station facility and other transit facilities served by Community Transit and Skagit Transit. 20.The area proposed to be included in the Multiple Family Property Tax Exemption program includes a substantial number of properties that have a high likelihood of being redeveloped in the foreseeable future. 21. Certain amendments to EMC Chapter 3.78 are necessary to expand the City's Multiple Family Property Tax Exemption program to this area to encourage the development of housing that will benefit ECC,WSU,Providence Regional Medical Center at Everett, and the greater neighborhood area. 22. Future planning efforts to be undertaken eil in the future by the City will review the potentma_ for adjustin,-Y i�;".."d` es i^The `�,,-ju Multiple Property y ta;-Eve l ptioll program ijl the _1 I- Family� 1. this art3. 3