2007/02/28 Council Agenda Packet

• I0 WO 4 S k ORDINANCE NO. An Ordinance Amending the City's Multiple Family Housing Tax Provisions, Ordinance No. 2347-98, (Chapter 3.78 EMC) WHEREAS, RCW 84.14 allows cities to establish a property tax exemption for cities to encourage the development of multiple family housing in targeted urban centers; and WHEREAS, the City enacted Ordinance No. 2347-98 implementing a property tax exemption for development of twenty or more dwelling units within a targeted area designated by Map No. 15-1 of the Everett Zoning Code(EMC Title 19); and WHEREAS, Ordinance No. 2347-98 established a ten-year period in which qualifying projects could apply for the property tax exemption, which will expire in 2008 unless extended; and WHEREAS,the City has recently completed a planning process culminating in the adoption of the Downtown Subarea Plan as an amendment to the City's Growth Management Comprehensive Plan; and WHEREAS,the Downtown Subarea Plan encourages the further development of multiple family housing as an important strategy in the redevelopment of the downtown; and WHEREAS,the Everett Station Area Plan encourages housing on larger parcels and live-work housing units in the vicinity of Everett Station; and WHEREAS,the rezone actions that accompanied the adoption of the Downtown Subarea Plan allow and encourage the development of multiple family housing in areas that are both within and outside of the area designated for the property tax exemption by Ordinance No. 2347-98; and WHEREAS, only two developments have benefited from the property tax exemption since it was enacted by the City in 1998; and WHEREAS, RCW 84.14 allows the property tax exemption, at the discretion of the City,to apply to qualifying developments with as few as four dwelling units; 7 3 WHEREAS,the City Council finds the following: 1