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4°, <br /> Agenda Subject: Impact Fee Deferral and Exemption Amendments Date: 6/14/2016 <br /> Staff Report to Planning Commission <br /> • Removal of the requirement to make payment at time of final <br /> inspection or certificate of occupancy.Payment under the <br /> proposed ordinance is based on closing of the first sale of the <br /> property or 18 months from the issues of the building permit, <br /> whichever comes first. <br /> • Adding a certification that the applicant has not requested more <br /> than 20 deferrals in one year, consistent with Snohomish <br /> County's amendment. <br /> The City is also proposing a$250 administrative fee(each unit)for the <br /> deferral. <br /> Low-income Housing 80%Exemption: <br /> The proposal includes an exemption from impact fees for low-income <br /> housing.The proposal includes: <br /> • Exempt 80%of impact fees for low-income housing. <br /> • The 100%exemption would still be allowed for low-income <br /> housing, but backfilling the funds exempted would be required. <br /> • Low-income housing,for this purpose,defined as housing <br /> provided to those households earning 50%of area median <br /> income(AMI)or less.(A two-person household would have to <br /> earn$36,150 or less,and rents would have to be no more than <br /> $791 for a studio or$847 for a 1-bedroom,based on 2016 <br /> income and rent limits.) <br /> • Decision to approve exemption based on demonstrated <br /> financial need and community benefit. <br /> • Exemption approval is an administrative decision (Mayor or <br /> designee). <br /> • School district exemptions would require approval by the school <br /> district. <br /> • Any exemption approved would require recording of a low- <br /> income housing covenant to ensure ongoing compliance. <br /> PUBLIC COMMENT <br /> Notice was provided to interested parties, including the builder <br /> PUBLIC/AGENCY NOTICE: association,school districts,affordable housing developers, <br /> neighborhoods and Snohomish County. <br /> COMMENT LETTERS: No comments have been received at the time of writing this report <br /> KEY ISSUES SUMMARY: None <br /> STAFF RESPONSE: n/a <br /> DECISION CRITERIA <br /> Chapter 82.02 RCW authorizes cities that plan under the Growth <br /> SOURCE: Management Act(GMA)to impose impact fees on development <br /> activity. <br /> Page 2 of 7 <br /> 27 <br />