2022/12/07 Council Agenda Packet

ORDINANCE NO. 0 EVERETT WASH I NGTON An ORDINANCE AMENDING the Everett Municipal Code to clarify applicability of an eight -year limited property tax exemption, amending Chapter 3.78 EMC WHEREAS, A. RCW 84.14 authorizes cities to establish a property tax exemption program to encourage increased residential opportunities, including affordable housing opportunities, and to stimulate the construction of new multifamily housing and the rehabilitation of existing vacant and underutilized buildings for multifamily housing. B. The city has enacted a program, codified under EMC 3.78, whereby property owners may qualify for a limited property tax exemption upon issuance of a Final Certificate of Tax Exemption, which certifies to the Snohomish County Assessor that the owner is eligible to receive such an exemption; and C. The city substantially revised its multifamily tax exemption program in 2018 through Ordinance 3635-18. D. There has been confusion regarding whether the 8-year tax exemption option provided by RCW 84.14.020(1)(a) is authorized under Everett's revised multifamily tax exemption program. E. There is no indication in the legislative record that city staff or the city council intended to remove the eight -year property tax exemption option. F. This ordinance confirms and clarifies that the city authorizes an eight -year property tax exemption as authorized by state law under RCW 84.14.020(1)(a)(ii)(A). G. This ordinance is categorically exempt from review under the State Environmental Policy Act under WAC 197-11-800(19). NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1. Section EMC 3.78.050 is hereby amended as follows: 3.78.050 Project eligibility standards and guidelines. A proposed project must meet the following requirements for consideration for an eight year or twelve year property tax exemption: A. Location. The project must be located within one of the residential target areas designated ORDINANCE -22 Page 1 of 4