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/0/1fr. <br /> ORDINANCE NO. 2347-98 a a <br /> AN ORDINANCE establishing a 10 year exemption from real <br /> property taxation for the development of multifamily housing in a <br /> designated residential targeted area. <br /> WHEREAS, the Washington State Legislature in Chapter 84.14 RCW provided <br /> for 10 year exemptions from property taxation for multifamily housing located in <br /> residential target areas within cities including the City of Everett; and <br /> WHEREAS,within the urban center of the City of Everett, there is an insufficient <br /> number of available, desirable and convenient residential units and housing opportunities <br /> to meet the needs of the City of Everett's growing population, thus creating a need in the <br /> City's urban center for desirable, convenient, attractive and livable housing units; and <br /> WHEREAS, the development of additional housing units in the urban center of <br /> the City will attract and maintain a significant increase in the number of residents which <br /> will in part achieve the planning goals mandated by the Growth Management Act under <br /> RCW 36.70A.020; and <br /> WHEREAS,the tax incentive provided by Chapter 84.14 RCW will stimulate the <br /> creation of new multifamily residential units within the City's urban center,benefiting <br /> and promoting public health, safety and welfare by encouraging residential <br /> redevelopment of the City's urban center; and <br /> WHEREAS,this housing tax-incentive program also would promote further <br /> economic development in the City's urban center by creating an influx of new residents <br /> who will utilize urban services and stimulate urban development; <br /> Now, therefore, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1. Findings. <br /> A. The urban center of the City of Everett lacks sufficient available, desirable <br /> and convenient residential housing to meet the needs of the public, and more current and <br /> future residents of Everett would be likely to live in the City's urban center if additional <br /> desirable, convenient, attractive and livable places to live were available. <br /> B. The development of such housing units in the urban center of the City will <br /> attract and maintain a significant increase in the number of residents, thus making the <br /> 1 <br />