Ordinance 3954-23 - Laserfiche WebLink

ORDINANCE Page 10 of 17 3.78.060 040 Designated residential targeted areas. The boundaries of the designated residential target areas are located within the urban centers listed below, and as indicated on the maps in Exhibit 1 of this chapter and are as follows: All parcels within the Mixed Urban (MU), Business (B), and Urban Residential 4 (UR4) zoning districts as defined in Chapter 19.03 EMC and mapped on the City’s official zoning map Chapter 19.03.040 Map 3-1, and as amended in the future, are designated as residential targeted areas for purposes of this chapter. URBAN CENTER DESIGNATION Metropolitan Center Area 1 Evergreen Way Area 2 (Maps A, B and C) North Broadway Area 3 Waterfront Place Area 4 Riverfront Area 5 3.78.070 050 Project eligibility standards and guidelines. A proposed project must meet the following requirements for consideration for an eight-year or, 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 at least eight units of multifamily housing within a residential structure or as part of a mixed-use development. A minimum of four new units must be constructed or at least four additional multifamily units must be added to existing occupied multifamily housing. Existing multifamily housing that has been vacant for twelve months or more does not have to provide additional units so long as the project provides at least four units of new, converted, or rehabilitated 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. At least fifty percent 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.