Ordinance 3032-07 - Laserfiche WebLink

• median family income, adjusted for family size, for the county where the project is located. G. "High cost area" means a county where the third quarter median house price for the previous year as reported by the Washington center for real estate research at Washington State University is equal to or greater than on hundred thirty percent of the statewide median house price published during the same time period. H. "Owner" means the property owner of record. I. "Multifamily housing" and "multiple-unit housing" area used synonymously in this chapter and mean a building having the number of dwelling units specified in EMC 3.78.070.D.3 that are not designed or used as transient accommodations, not including hotels and motels, and designed for permanent residential occupancy resulting from new construction, rehabilitation or conversion of a vacant, underutilized or substandard building to multifamily housing. J. "Permanent residential occupancy" means multifamily housing that provides either owner occupant housing or rental accommodations that are leased for a period of at least one month on a nontransient basis. This excludes accommodations that offer occupancy on a transient basis such as hotels and motels that predominately offer rental accommodations on a daily or weekly basis. K. "Rehabilitation improvements" means modifications to existing structures that are vacant for twelve months or longer, that are made to achieve a condition of substantial compliance with existing building codes or modification to existing occupied structures which increase the number of multifamily housing units. L. "Residential targeted area" means the area within or coterminous with the city's urban center that has been designated by the city council as the residential targeted area in accordance with this chapter and Chapter 84.14 RCW as found by the city council to be lacking sufficient available, convenient, attractive, livable, and desirable residential housing to meet the needs of the public. M. "Urban center" means the compact identifiable district in the city center as described in Section 3.78.150 of this chapter, where urban residents may obtain a variety of products and services including, but not limited to, shops, offices, banks, restaurants, governmental agencies and a mixture of uses and activities that may include housing, recreation, and cultural activities in association with either commercial or office, or both uses. Section 3. Paragraph B of Section 7 of Ordinance No. 2347-98, as amended (EMC 3.78.070.B), which reads as follows: B. Duration of Exemption. The value of new construction, conversion, and rehabilitation improvements qualifying under this chapter is exempt from ad valorem property taxation for ten successive years beginning January 1st of the year immediately following the calendar year of issuance of the final certificate of tax exemption. 4