JJ&B Everett LLC John Walker 11/9/2016

City of Everett Tax Exemption for Multifamily Housing Project:Student housing at 931 Broadway Ave, Everett Narrative Statement(supplement to Application Form) The project qualifies for the tax exemption for the following reasons (ref EMC 3.78.070(D) for eligibility requirements). 1. Location. The project is located in the North Broadway urban center which is a Residential targeted area. 2. a. Tenant Displacement. No students will be displaced by the proposed project. Students will vacate the existing facility by July 1, 2016, coterminous with the end of the semester. Students will begin to occupy the new larger student housing facility on or about September 10, 2017 at the completion of construction and the start of the fall semester. b. Building Code Deficiency. The existing building to be demolished was constructed in 1963 and as such is nonconforming to current building and fire codes. For example,the building was not designed to current seismic standards and does not have an automatic fire alarm system required by the City of Everett fire code (ref 1103.7.6). 3. Size. a. The project will contain 39 units which is greater than the 20 unit minimum required in the North Broadway urban center. 4. Permanent Residential Housing. All 39 units meet the definition of permanent residential occupancy as defined in Section 3.78.030(J). 5. Proposed Completion Date. Projected start date is 7/1/16 with a completion date of 7/1/17, therefore the project meets the maximum 3 year from application to completion requirement. 6. Compliance with Guidelines and Standards.The proposed project will be designed to and in compliance with all applicable standards. 7. Off-Street Parking. EvCC will be providing all parking required by the City of Everett zoning code (see attached map for location). Applicant will provide the City of Everett with a parking covenant in accordance with the provisions of this Section. 8. Building Materials. Applicant will comply with applicable standards during the zoning and building permit process. 9. Design Requirements within the Downtown Area. Not applicable to the proposed project. 10. Design Requirements within the E-1 MUO (Mixed Use Overlay) Zone and the North Broadway Urban Center. a. Not applicable b. Combination of Amenities. "...planning director may approve a combination of amenities if such combination results in a benefit to the public and/or the residents of the development at least equivalent to providing only one of the amenities listing in 3 of.•