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MARCH 2023 I DRAFT REPORT v.4.1 <br />EVERETT <br />TABLE OF CONTENTS <br />W AS NIIIG T ON <br />EXECUTIVE SUMMARY ES-1 <br />INTRODUCTION INT-1 <br />1.0 UPDATE THE FINANCIAL ANALYSIS FROM THE RETHINK HOUSING ACTION PLAN —APPENDIX G..1-1 <br />2.0 REVIEW PERFORMANCE AND PROPOSE ADJUSTMENTS TO THE CITY'S MULTI -FAMILY TAX <br />EXEMPTION PROGRAM INCENTIVE PROGRAM (EMC 3.78) 2-1 <br />3.0 REVIEW THE CITY'S HEIGHT DENSITY PROGRAM (EMC 19.22.080) 3-1 <br />4.0 REVIEW THE CITY'S AFFORDABLE HOUSING FEE REDUCTION AND WAIVER PROGRAM, <br />INCLUDING IMPACT FEES 4-1 <br />5.0 PREPARE A LIST OF OTHER HOUSING DEVELOPMENT INCENTIVES, INCLUDING THOSE <br />CURRENTLY IN USE ELSEWHERE IN WASHINGTON 5-1 <br />6.0 ANALYZE THE INDIVIDUAL PROJECT AND CUMULATIVE FINANCIAL IMPACTS ON CITY FINANCES <br />6-1 <br />7.0 REPORT ON THE FEASIBILITY OF NEW HOUSING DEVELOPMENT INCENTIVES 7-1 <br />8.0 STAKEHOLDER OUTREACH 8-1 <br />9.0 COORDINATE WITH OTHER HOUSING INITIATIVE PROGRAMS 9-1 <br />LIST OF TABLES <br />TABLE ES.1. FEASIBILITY OF INCENTIVES. ES-5 <br />TABLE 2.1. CITY MFTE PROGRAM SUMMARY. 2-3 <br />TABLE 2.2. AREA MEDIAN INCOME INFORMATION. 2-12 <br />TABLE 2.3. MEASURE OF RENTAL RATES PAID IN 2021. 2-13 <br />TABLE 4.1. SUMMARY OF APPROVED AFFORDABLE HOUSING FEE REDUCTION AND WAIVERS. 4-1 <br />TABLE 5.1. SUMMARY OF RESOURCES REVIEWED AND CITY OF EVERETT IMPLEMENTATION. 5-2 <br />LISP- OF EXHIBITS <br />EXHIBIT 2.1. CITY-WIDE METE PROGRAM 2-5 <br />EXHIBIT 2.2A-2.2E. MFTE AREAS. 2-6 <br />EXHIBIT3.1. MAXIMUM BUILDING HEIGHT MAP (EMC 19.22.150) 3-2 <br />LIST OF ATTACHMENTS <br />ATTACHMENT 1.1 <br />ATTACHMENT 1.2 <br />ATTACHMENT 3.1 <br />ATTACHMENT 5.1 <br />ATTACHMENT 5.2 <br />Cushman & Wakefield Demand and Feasibility Assessment for New <br />Multi -family Development <br />Update to HAP Financial Analysis <br />Cushman & Wakefield Memo on Bonus Height Incentive <br />Revisiting the Evergreen Way Revitalization Plan <br />Preliminary Discussion of Inclusionary Zoning <br />ii <br />