2016/04/27 Council Agenda Packet

the construction of nearly I,000 housing units in an area that had experienced little housing development in the preceding twenty years prior to the creation of the program. 1. RCiW 8".14.010 defines areas eligible for designation as"urban centers"where the Multiple Family Property Tax Exemption is intended.to be used to stimulate housing development in targeted areas where a mix of uses and adequate urban infrastructure exists. 12. As a planned new mixed use neighborhood,the area lacks sufficient desirable residential housing despite the need for additional housing in Everett. 13. The City has been asked by the Port of Everett to expand the City's Multiple Family Property Tax Exemption program to the first phase of planned housing development in Waterfront Place in order to make redevelopment of multiple family housing within the corridor more viable financially. 14. Expanding the eligible area for the Multiple Family Property Tax Exemption program to include the area will create a financial incentive to develop quality housing as intended by EMC Chapter 3.78. 15. The area proposed to be included in the Multiple Family Property Tax Exemption program is limited to the first phase of housing development within Waterfront Place. 16. Certain amendments to EMC Chapter 3.78 are necessary to expand the City's Multiple Family Property Tax Exemption program to this area to encourage the development of housing that will benefit Everett. 17. RCW 84.14.040 requires the City to adopt a Resolution to establish a hearing date, and to provide public notice of the public hearing a minimum of 7 days and not more than 30 days prior to the date the City Council will consider the Ordinance to establish the North Broadway Urban Center. 18. Notice of the City Council public hearing was provided in the Daily Herald within the time frame required by RCW 84.14.040. WHEREAS,the City Council concludes the following: 1. The notice for public hearing has met the requirements of RCW 84.14.040. 2. The proposed amendments to EMC Chapter 3.78 will encourage the development of desirable residential housing in the planned Waterfront Place mixed use urban center. 3. The areas within the designated urban center area lack sufficient available, attractive, convenient, desirable, and livable residential housing to meet the needs of the public who would be likely to live in the urban center, if such places to live were available. -ihe additional housing opportunity In the targeted area will assist in achieving i'_+ stated nurcoseRs of .r 24.1--.007, to encoo1�aee inc ased rest' en tial oppoltuwties j iar,,L=Hd =ie_a a a C , :l Cl sit ii ,. _ .�;_ =!i.._'.P_ 1 l'• l! l ....va 1!_ i j i