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• 6 <br /> RESOLUTION NO. <br /> 'A Resolution declaring the City's intention to designate Waterfront Place as an <br /> Urban Center under the Multiple Family Property Tax Exemption provisions of <br /> RCW Chapter 84.14, and setting May 11, 2016 as the date for a public hearing <br /> .WHEREAS,RCW Chapter 84.14 provides for the establishment of"urban centers" in which <br /> qualifying multiple family housing developments are exempt from the payment of property taxes <br /> for a limited period of time; and <br /> WHEREAS, it is the purpose of RCW Chapter 84.14 to encourage increased residential <br /> opportunities, and to stimulate the construction of new multifamily housing, including affordable <br /> housing, in urban centers having insufficient housing opportunities. <br /> WHEREAS, RCW 84.14.040 requires a city to adopt a Resolution declaring its intention to <br /> designate or modify the boundaries of an urban center under RCW Chapter 84.14 and establish <br /> the time and place of a public hearing to be held for such purposes. <br /> • NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF EVERETT DOES <br /> HEREBY RESOLVE THE FOLLOWING: <br /> 1. A Public Hearing will be held on Wednesday,May 11, 2016, at the regular meeting of <br /> the City Council,which begins at 6:30 pm, in the City Council Chambers of the William <br /> - E. Moore Historic City Hall, 3002 Wetmore Avenue. <br /> 2. A vicinity map identifying the area proposed to be designated as an urban center is <br /> attached hereto as Exhibit A. <br /> 3. The area to be eligible for the property tax exemption is the area depicted on Exhibit A as <br /> "Approximate Boundary of Tax Exempt Area." <br /> Councilmember Introducing Resolution Date <br /> City Council President <br /> • <br /> 20 <br />