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352 September 12,1990 <br /> COUNCIL BILL 909-63 <br /> FIRST READING: <br /> AN ORDINANCE relating to Local Improvement District No. 724; <br /> fixing the amoR <br /> nt, form, date, interest rates, maturity at ity end <br /> denominations of the Local Improvement District 724 <br /> Bonds; po <br /> providing for the sale and delivery thereof tHarper, <br /> p <br /> McLean Company and Security Pacific Securities, Inc. in <br /> Seattle, Washington. and fixing the interest rate c Local <br /> Improvement District No.724 assessment installments. <br /> COUNCIL BILL 909-64 <br /> FIRST READING: <br /> AN ORDINANCE providing for the vacation of 1st Place West, <br /> east oT 100th Street'S.M. <br /> PUBLIC HEARING <br /> I=eartifdtnand Usemondelopmed Permitublic hearing regarding the <br /> Pearl Maddy,Planning Staff,requested a new Section VII be added as <br /> follows: <br /> Section VII: WAIVER FOR LOW INCOME HOUSING: Not <br /> withstanding <br /> any language in this Ordinance, the Director of <br /> Planning d Community Development Department is hereby <br /> in <br /> provided the discretion to waive, either partially o <br /> total, the fees established in this Ordinance for projects <br /> submitted for review to the City's Planning and Community <br /> Development Department which projects involve the <br /> cinstruction of low income housing. The extend of the waiver <br /> is dependent on the proportion of the project dedicated to <br /> low income housing. (i.e., the greater portion of the <br /> project dedicated exclusively to low income housing will <br /> ecult in a greater p rtion of the fees beingwaived.) For <br /> purposes of this Ordinance, "low incomehousing" includes <br /> only those housing nits which atesubsidized either <br /> privately o publicly for the purposeof making them mo[ <br /> affordable or the low income. <br /> Councilman Overstreet asked that the Section VII also:include: <br /> The amount of the fee waived shall be a percentage <br /> proportionate to the amount of the project that is Zap% <br /> income: i.e., if the project is 20%low income housing, <br /> of the total fee would be aived. <br /> Moved by Vice President Diamond, seconded <br /> conded by Councilman Overstreet <br /> to amend the Ordinance by including new Section VII as proposed <br /> by staff and Councilman Overstreet. <br /> Roll was called on the amendment with all councilmen voting yes <br /> except President Pope who was excUSed. <br /> Motion carried. <br />