Ordinance 3954-23 - Laserfiche WebLink

ORDINANCE Page 11 of 17 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 reasonable opportunity to relocate. D. Rehabilitation. Property proposed to be rehabilitated must fail to comply with EMC Title 16. E. Compliance with Guidelines and Standards. The project shall be designed to comply with the city’s - building, housing, and zoning codes, and any other applicable regulations in effect at the time the application is approved. F. Displacement Mitigation. A project that would result in direct displacement of low-income residential tenants or a community anchor may be conditioned to require reasonable mitigation of that displacement. G. Completion. The project shall be completed within three years from the date of approval of the contract by the City as provided in 3.78.100(A) or by any extended deadline granted by the director as provided in 3.78.100(B). H. Contract. Per RCW 84.14.030(6), the applicant must enter into a contract under which the applicant has agreed to the implementation of the development on terms and conditions satisfactory to the council planning director . I. Expiration. No new applications may be accepted for inclusion into this program after December 31, 2032. No extensions may be granted under 3.78.040 after December 31, 2046. F. Affordable Housing for Twelve-Year Tax Exemption. 3.78.080 Affordable housing for twelve-year tax exemption. A. Projects which are seeking a twelve-year tax exemption shall provide twenty percent of the units as follows: a. Area 1 (Metro Everett), Area 2 (Evergreen Way) and Area 3 (North Broadway). Projects located within these areas seeking a twelve-year tax exemption shall provide: 1. (1) Ten percent of the units affordable to households whose income is at or below sixty percent of the median household income for Snohomish County, adjusted for household size for Snohomish County; 2. (2) Ten percent of the units affordable to households whose income is at or below eighty percent of the median household income for Snohomish County, adjusted for household size for Snohomish County. 3. Units intended exclusively for owner occupancy: twenty percent of the units affordable to households whose income is at or below eighty percent of the median household income for Snohomish County, adjusted for household size. b. Area 4 (Waterfront) and Area 5 (Riverfront). Projects located within these areas seeking a twelve-year tax exemption shall provide: