Laserfiche WebLink
D. If, in calculating the minimum proportion of the multi -family housing units in the project for <br />affordable housing in this section, the number for an affordability category contains a fraction, then the <br />minimum number of multi -family housing units for that category shall be rounded up to the next whole <br />number. <br />E. For any affordable units required under this chapter, the following shall apply: <br />1. The mix and configuration of affordable units (e.g., studio, one -bedroom, etc.) shall be <br />substantially proportional to the mix and configuration of the total housing units in the project <br />unless otherwise approved by the City. <br />2. Affordable housing units shall be intermingled with all other units in the development. <br />3. The quality of construction and finish materials in those affordable units used to qualify for <br />the exemption shall be the same as other housing units in the project. <br />F. The exemption does not apply to the value of land or to the value of residential or non-residential <br />improvements not qualifying under this chapter, nor does the exemption apply to increases in assessed <br />valuation of land and nonqualifying improvements. <br />3.78.040 Extension of tax exemption <br />A. The owner of property that set aside affordable units in exchange for a tax exemption pursuant to <br />3.78 030 may apply for an extension for an additional twelve successive years. No extension will be <br />granted for property that received a twenty-year tax exemption pursuant to 3.78.030(C). <br />B. Only one (1) extension may be granted. <br />C. For the property to qualify for an extension: <br />1. The property must have qualified for, satisfied the conditions of, and utilized the twelve-year <br />exemption sought to be extended; <br />2. The owner must timely apply for the extension on forms provided by the City within eighteen <br />(18) months but no later than one month of expiration of the original exemption; <br />3. The property must meet the requirements of this chapter for the property to qualify for an <br />exemption under 3.78.030(A) or (B) as applicable at the time of the extension application; and <br />4. The property must provide affordable housing pursuant to EMC 3.78.080 for the extension <br />period or as set forth in the original contract. <br />D. If an extension is granted by the City, at the end of both the tenth and eleventh years of a twelve- <br />year extension, the applicant or the property owner at that time must provide tenants of affordable <br />units with notification of the applicant's or property owner's intent to provide the tenant with relocation <br />assistance in an amount equal to one (1) month as provided in RCW 84.14.020, as amended. <br />E. After the expiration of the extension, the applicant or the property owner must provide tenant <br />relocation assistance in an amount equal to one (1) month's rent to a qualified tenant within the final <br />12 ORDINANCE Page 8 of 17 <br />