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4 <br /> 1. Extending the time frame allowing for a property tax exemption for multiple family housing <br /> from 2008 to 2018 is necessary to encourage the further development of housing to support the <br /> redevelopment of downtown and the Everett Station area in a positive manner consistent with the <br /> City's Growth Management Comprehensive Plan. <br /> 2. Expanding the boundaries of the multiple family housing tax exemption will support the <br /> redevelopment of downtownand the Everett Station area in a positive manner consistent with the <br /> City's Growth Management Comprehensive Plan. <br /> 3 Allowing the-multiple prepert tax-exemption-to-apply to-developments-of fewer--than <br /> twenty housing units will encourage adaptive reuse of existing older buildings within downtown <br /> and the Everett,Station area and the development of mixed use buildings and more residential <br /> buildings consistent with the.City's Growth Management Comprehensive Plan. <br /> 4. Establishing additional requirements to include quality design measures and use of quality <br /> materials in the construction of developments receiving the property tax exemption provides for <br /> the public to be benefited as well as the property owner by high quality development in <br /> downtown and the Everett Station area, consistent with the City's Growth Management <br /> Comprehensive Plan. <br /> 5. The amendments to the City's Multiple.Family Housing Property Tax Exemption regulations <br /> are consistent with the City's Growth Management Comprehensive Plan;and promote the best <br /> long-term interests of the Everett Community. <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES HEREBY ORDAIN: <br /> Section 1. Paragraph D of Section 3 of Ordinance No. 2347-98(EMC 3.78.030.D),which reads <br /> as follows: <br /> D. "Multifamily housing" and"multiple-unit housing" are used synonymously in this <br /> chapter and mean a building having twenty or more dwelling units not designed or used <br /> as transient accommodations,not including hotels and motels and designed for <br /> permanent residential occupancy resulting from new construction,rehabilitation or <br /> conversion of a vacant,underutilized or substandard building to multifamily housing. <br /> Is hereby amended to read as follows: <br /> D. "Multifamily housing" and"multiple-unit housing"area used synonymously in this <br /> chapter and mead a building having four or more dwelling units not designed or used as <br /> transient accommodations,not including hotels and motels, and designed for permanent <br /> residential occupancy resulting from new construction, rehabilitation or conversion of a <br /> vacant,underutilized or substandard building to multifamily housing. <br /> Section 2. Section 6 of Ordinance No. 2347-98 (EMC 3.78.060),which reads as follows: <br /> Residential targeted area standards and guidelines. <br /> 2 <br /> 1 <br />