Laserfiche WebLink
ORDINANCE Page 12 of 17 <br />(1) Ten percent of the units affordable to low-income households; and <br />(2) Ten percent of the units affordable to moderate-income households. <br />2. Adjustment for Three-Plus Bedroom Units. The affordable housing requirement can be met for rental <br />occupancy, either partially or fully, for any units with three or more bedrooms that are available to <br />households whose adjusted income is at or below eighty percent of median household income adjusted <br />for household size for Snohomish County. <br />3. Owner Occupancy. In the case of projects intended exclusively for owner occupancy, the affordable <br />housing requirement means residential housing that is within the means of low- or moderate-income <br />households. <br />B. 4. The planning director is authorized to publish income and rent limits, including the use of rent and <br />income calculators, to assist in implementation of these affordable housing requirements. <br />C. At the end of both the tenth and eleventh years of a twelve-year exemption, the applicant or the <br />property owner at that time must provide tenants of affordable units with notification of the applicant’s <br />or property owner’s intent to discontinue the affordability provisions and that the tenant is eligible for <br />relocation assistance in an amount equal to one (1) month as provided in RCW 84.14.020. <br />D. The applicant or the property owner must provide tenant relocation assistance in an amount equal <br />to one (1) month's rent to a qualified tenant within the final month of the qualified tenant's lease. To be <br />eligible for tenant relocation assistance under this subsection, the tenant must occupy an affordable <br />unit at the time the exemption expires and must qualify as an eligible household under this chapter at <br />the time relocation assistance is sought. <br />3.78.085 Affordable housing for twenty-year tax exemption. <br />A. Affordable Housing for Twenty-Year Tax Exemption. Projects which are seeking a twenty-year tax <br />exemption must provide at least twenty-five percent of the units for homeownership only affordable to <br />households whose income is at or below eighty percent of the median household income for Snohomish <br />County adjusted for household use. <br />B. Adjustment for Three-Plus Bedroom Units. The affordable housing requirement can be met for owner <br />occupancy, either partially or fully, for any units with three or more bedrooms that are available to <br />households whose adjusted income is at or below eighty percent of median household income adjusted <br />for household size for Snohomish County. <br />C. The planning director is authorized to publish income and rent limits, including the use of rent and <br />income calculators, to assist in implementation of these affordable housing requirements <br />3.78.090 060 Application procedures. <br />A property owner who wishes to propose a project for a multifamily property tax exemption shall <br />comply with the following procedures as per RCW 84.14.050: <br />A. Prior to the application for any building permit any construction of tax-exempt project elements, the <br />applicant shall submit an application to the planning director, on a form established by the planning <br />director, along with required application fees.