2023/04/19 Council Agenda Packet

URBAN CENTER DESIGNATION Metropolitan Center Area 1 Evergreen Wa„ Area 2 (Maps A, B and C) Ar a 3 Waterfront Place Area 1 Riverfront Area 5 3.78.070 O&Q Project eligibility standards and guidelines. A proposed project must meet the following requirements for consideration for an eight -year e-r1 twelve-year, or twenty-year property tax exemption: A. Location. The project must be located within one of the residential target areas designated in Section 3.78.060 040 and Exhibit 1. B. Size. The project must include ential structure • 1 i . r . • c constructed or at least ping that has been vacant for twelve months or more does not have to provide • multifamily housing. multiple -unit housing as follows: 1. For new construction at least sixteen dwelling units must be constructed. 2. For rehabilitation, the project must rehabilitate or create at least four new dwelling units. Buildings proposed to be rehabilitated must fail to comply with EMC Title 16. 3. Conversion of non-residential buildings to housing: at least four dwelling units must be created. C. Permanent Residential Housing. The project must be a multifamily housing within a residential structure or as part of a mixed -use development in which at least fifty percent of the space within such residential structure mixed use development is provided for permanent occupancy. ercent of the space designated for multi family housing must be provided for permanent residential occupancy, and only that portion of the space designated for multi family housing shall be eligible for the exemption provided for herein. D. Tenant Displacement. If the property proposed to be rehabilitated is not vacant prior to application, an applicant must provide each existing tenant housing of comparable size, quality, and price and a r asonable opportunity to relocate. D. Rehabilitation. Property proposed to be rehabilitated must fail to comply with EMC Title 16. LI ORDINANCE Page 10 of 17