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Annual compliance review. <br /> Within thirty days after the first anniversary of the date of filing the final certificate of <br /> tax exemption and each year thereafter, for a period of ten years, the property owner shall <br /> file a notarized declaration with the director indicating the following: <br /> A. A statement of occupancy and vacancy of the multifamily units during the previous <br /> year; <br /> B. A certification that the property continues to be in compliance with the contract <br /> with the city; and <br /> C. A description of any subsequent improvements or changes to the property. <br /> City staff shall also conduct on-site verification of the declaration. Failure to submit <br /> the annual declaration may result in the tax exemption being canceled. <br /> is hereby amended to read as follows: <br /> Annual compliance review. <br /> Within thirty days after the first anniversary of the date of filing the final certificate of <br /> tax exemption and each year thereafter, for the tax exemption period, the property owner <br /> shall file a notarized declaration with the director indicating the following: <br /> A. A statement of occupancy and vacancy of the multifamily units during the previous <br /> year; <br /> B. A certification that the property continues to be in compliance with the contract <br /> with the city; and <br /> C. A description of any subsequent improvements or changes to the property; and <br /> D. If applicable, that the property has been in compliance with the affordable housing <br /> requirements of RCW 84.14.020. <br /> City staff shall also conduct on-site verification of the declaration. Failure to submit <br /> the annual declaration may result in the tax exemption being canceled. <br /> B. Section 8. Section 13 of Ordinance No. 2347-98, as amended (EMC 3.78.130), <br /> which currently reads as follows: <br /> Cancellation of tax exemption. <br /> If at any time the director determines the owner has not complied with the terms of the <br /> contract or with the requirements of this chapter, or that the property no longer complies <br /> with the terms of the contract or with the requirements of this chapter, or for any reason <br /> no longer qualifies for the tax exemption, the tax exemption shall be canceled and <br /> additional taxes, interest and penalties imposed pursuant to state law. This cancellation <br /> may occur in conjunction with the annual review or at any other time when <br /> noncompliance has been determined. If the owner intends to convert the multifamily <br /> housing to another use, the owner must notify the director and the Snohomish County <br /> assessor within sixty days of the change in use. Upon such change in use, the tax <br /> exemption shall be canceled and additional taxes, interest and penalties imposed pursuant <br /> to state law. <br /> A. Effect of Cancellation. If a tax exemption is canceled due to a change in use or <br /> other noncompliance, the Snohomish County assessor shall comply with applicable state <br /> 8 <br />