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i <br /> Metro Everett,Incentives Proposal(Draft) <br /> Revenue <br /> Program Note <br /> Potential <br /> o Review ways to increase 1%for art contributions by increased cost to <br /> eliminating some project exemptions outlined in EMC city utilities and <br /> 2.95.030.A.2 transporta-tion <br /> projects <br /> o Create low-interest loans for facade improvements and Could be CDBG <br /> historic preservation <br /> No increased <br /> o Pursue designation of Community Renewal Area (CRA) to funding source, <br /> address blighted areas but staff <br /> intensive <br /> o Pursue grant funding and allocate city capital funds for <br /> improvement of a pedestrian path linking Everett Station to Long-term 0& <br /> M <br /> downtown <br /> New revenue <br /> o Pursue,grant and new funding opportunities for low-income (voter- <br /> housing: approved)for <br /> ■ Low-income housing levy levy;REDI fund <br /> ■ Regional Equitable Development Initiative (REDI) fund would require <br /> repayment <br /> New Development Incentives: <br /> The following development incentive programs build on existing programs in the city's <br /> zoning code. <br /> o Provide significantly reduced parking in exchange for efforts that will <br /> measurably reduce vehicle trips <br /> o Allow higher density,heights and floor area ratios in Metro Everett in <br /> exchange for public benefits <br /> o Greater flexibility or alternatives for on-site recreation and open space for <br /> multi-family development <br /> Draft,August 23,2016 5 <br /> 12 <br />