Resolution 6218 - Laserfiche WebLink

The criteria for Special Valuation are that the building be a historic property on the Everett Register,or be placed on the Everett Register by the end of the year. The property must have been rehabilitated at a cost which is at least 25%of the building alone,not including the land. The valuation of this property was$315,200 as verified by the Snohomish County Assessor's office, and the expenses totaled $731,782.77,which substantially exceeds the 25%. Staff has reviewed the receipts for all expenses submitted,and they are all qualified expenses under the municipal code. The work must have been completed within 24 months, and all work was done within this time period. The property will be protected by an agreement between the Halls and the Historical Commission. It requires them to care for the building in an appropriate manner and to bring changes to the building forward to the Historical Commission for review. Staff finds that the property meets the qualifications of the EMC for special valuation. Mark French: Is the valuation just for the restoration of both exterior and interior of the building? Jan Meston: Yes, it can be interior or exterior. It cannot be an expansion of the original building and it does not apply to landscaping. Expenses that are used to update the building to make it usable in current society are allowed, such as mechanical systems. Morrie Trautman: The conference room would be considered an expansion of the building. Are those expenses included? Andy Hall: They are not included. Barb Hardman: I appreciate your going through the effort to apply for this. Morrie Trautman moved to approve the application for Special Valuation for the Challacombe & Fickel building at 2727 Oakes Avenue as presented. Barb Hardman seconded the motion, which passed unanimously. Andy Hall: Thank you to the Commission and staff for your help. 6