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3. A limited amendment to EMC 3.78.080 will allow for the Koz Development student <br />housing building to be eligible for the property tax exemption. <br />NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br />Section 1. Section 1 of Ordinance No. 2408-99 and paragraph A Section 8 of Ordinance No. <br />2347-98, as amended, which reads as follows: <br />Application procedures. A property owner who wishes to propose a project for a tax <br />exemption shall comply with the following procedures: <br />A. Prior to the application for any building permit therefor, the applicant shall submit an <br />application to the director, on a form established by the director along with the required fees. The <br />initial application fees to the city shall consist of a base fee of five hundred dollars, plus twenty- <br />five dollars per multifamily unit. An additional one hundred fifty dollar fee to cover the <br />Snohomish County assessor's administrative costs shall also be paid to the city. If the application <br />is approved, the city shall pay the application fee to the county assessor for deposit in the county <br />current expense fund, after first deducting that portion of the fee attributable to its own <br />administrative costs in processing the application. If the application shall result in a denial by the <br />city, the city shall retain that portion of the fee attributable to its own administrative costs and <br />refund the balance to the applicant. <br />Is hereby amended to read as follows: <br />Application procedures. A property owner who wishes to propose a project for a tax <br />exemption shall comply with the following procedures: <br />A. Prior to the application for any building permit therefor, the applicant shall submit an <br />application to the director, on a form established by the director along with the required fees. The <br />initial application fees to the city shall consist of a base fee of five hundred dollars, plus twenty- <br />five dollars per multifamily unit. An additional one hundred fifty dollar fee to cover the <br />Snohomish County assessor's administrative costs shall also be paid to the city. If the application <br />is approved, the city shall pay the application fee to the county assessor for deposit in the county <br />current expense fund, after first deducting that portion of the fee attributable to its own <br />administrative costs in processing the application. If the application shall result in a denial by the <br />city, the city shall retain that portion of the fee attributable to its own administrative costs and <br />refund the balance to the applicant. Notwithstanding the above an applicant for a project located <br />strictly within an Institutional Overlay Zone may submit an application along with the required <br />fees to the director subsequent to the application for any building permit therefor, but prior to <br />issuance of a Certificate of Occupancy for the project. <br />Section 2. This Ordinance shall become void on January 1, 2017. <br />7 <br />