Ordinance 2658-02 - Laserfiche WebLink

4 Ordinance No. 2658-02Amending Section 16 of Ordinance No. 2347-98 (Chapter 3.78 EMC) to extend the deadline for accepting applications from January 1, 2003 to January 1, 2008. WHEREAS, Chapter 84.14 RCW provides for 10 year exemptions from property taxation for multifamily housing located in residential target areas within cities including the City of Everett; and WHEREAS,the City of Everett in Ordinance 2347-98 (Chapter 3.78 EMC) created a residential target area and has provided the authorization and procedures for qualifying for such property tax exemption; and WHEREAS, Section 16, Ordinance 2347-98 (EMC 3.78.160)provides that no application for such exemption will be accepted after January 1, 2002; and WHEREAS, the continuation for an additional five (5)years past January 1, 2003, of the ability of property owners to apply for such property exemption for multifamily housing is in the best interest of the City of Everett and of the downtown target area of the Everett; NOW THEREFORE THE CITY OF EVERETT DOES ORDAIN: SECTION 1. Section 16 of Ordinance 2347-98 (EMC 3.78.160)which provides: Section 16. Application Provisions of Ordinance Terminate January 1, 2003. As of January 1, 2003, no applications shall be accepted for the tax exemption provided for under the provisions of this Ordinance. This Ordinance shall apply only to those properties, whose owners have applications fully completed in accordance with this Ordinance on file before January 1, 2003. is hereby Amended to read as follows: Section 16. Application Provisions of Ordinance Terminate January 1, 2008.