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ORDINANCE NO. <br />EVERETT <br />WASHINGTON <br />An ORDINANCE Relating to Multifamily Tax Exemptions, AMENDING Chapter 3.78 of the Everett <br />Municipal Code. <br />WHEREAS, <br />A. Everett, along with the Puget Sound Region, is experiencing a housing availability and affordability <br />crisis; Census estimates (American Community Survey Table S2503 for 2021) indicate widespread <br />housing cost burden in the city: <br />1. 42% of the city's households pay more than 30% of their income for housing costs; <br />2. 77% of the city's below median income renter households pay more than 30% of their <br />income for housing costs; and <br />B. The city's comprehensive plan includes the following policies and implementation measures that <br />are supportive of this ordinance: <br />1. The goal of the Housing Element is to provide sufficient housing opportunities to meet <br />the needs of present and future residents of Everett for housing that is decent, safe, <br />accessible, attractive and affordable. (Housing Goal 4.0) <br />2. Consider providing additional incentives to housing developers and homebuilders in <br />return for providing housing that is affordable to lower and moderate -income <br />households. (Housing Policy 4.3.1) <br />3. Promote residential densities, property tax incentives and development standards in <br />areas where residential growth is desired that warrant redevelopment investment; and <br />allow a wide range of suitable uses in areas with redevelopment potential. (Economic <br />Development Policy 7.3.6) <br />4. Consider inclusionary housing measures, as appropriate, along with affordable housing <br />incentives as necessary to promote affordable housing in the Everett Planning Area. <br />(Housing Policy 4.3.2) <br />5. Provide incentives to site affordable housing in planned targeted areas that are within <br />walking distance to public transit lines and transit centers. "Targeted area" means a <br />planned area near transit that provides a mix of housing, retail and services promoting <br />the creation or preservation of affordable housing serving households at or below 80 <br />percent average median income (AMI). (Housing Policy 4.3.10) <br />12 ORDINANCE Page 1 of 17 <br />