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Resolution 1365RESOLUTION NO. 1365 A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON, NOTIFYING THE PUBLIC OF ITS INTENT TO DESIGNATE THE WESTGATE MIXED -USE ZONE DISTRICT AS A RESIDENTIAL TARGETED AREA FOR THE PURPOSE OF ESTABLISHING A MULTIFAMILY TAX EXEMPTION PROGRAM AND SETTING A PUBLIC HEARING WHEREAS Chapter 84.14 of the Revised Code of Washington provides for temporary special valuations for eligible improvements associated with multifamily housing, especially within urban centers deficient in planned residential development; and WHEREAS, on April 7, 2015 the Edmonds City Council adopted the Westgate Mixed - Use (WMU) Zone District as an urban center whose purpose is to: A. Encourage mixed -use development, including offices and retail spaces in conjunction with residential uses, in a walkable community center with a variety of amenity and open spaces. The intent is to establish a connection between neighborhoods; create a desirable center for local residents, while being inviting to visitors; and unify the larger Westgate district with a distinctive character. B. Create mixed -use walkable, compact development that is economically viable, attractive and community -friendly. C. Improve connectedness for pedestrian and bicycle users. D. Prioritize amenity spaces for informal and organized gatherings. E. Emphasize green building construction, stormwater infiltration, and a variety of green features. F. Establish a flexible regulating system that creates quality public spaces by regulating building placement and form. G. Ensure civic and private investments contribute to increased infrastructure capacity and benefit the surrounding neighborhoods and the community at large. H. Encourage the development of a variety of housing choices available to residents of all economic and age segments. and WHEREAS, multifamily residential development is lagging in the WMU Zone District while commercial development there and residential development elsewhere in the City is occurring; and WHEREAS, implementation of the Multi -Family Tax Exemption program, authorized by 84.14 RCW, may provide sufficient incentive to encourage residential development in the WMU Zone District; and WHEREAS, in order to establish a Multifamily Tax Exemption Program, the City must designate one or more residential targeted areas within which the temporary special valuation may be granted to qualifying residential improvements; and WHEREAS, RCW 84.14.040(2) states that a governing authority may adopt a resolution of intent to designate one or more residential targeted areas; and WHEREAS, in accordance with RCW 84.14.040(2), the resolution must state the time and place of a hearing to be held by the governing authority to consider the designation of the residential targeted area(s); NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON AS FOLLOWS: Section 1. The City Council of the City of Edmonds intends to designate the Westgate Mixed -Use Zone District, as defined by Edmonds Community Development Code Chapter 16.110, as a residential targeted area for the purposes of establishing a Multifamily Tax Exemption Program. Section 2. A public hearing to consider the designation of the Westgate Mixed -Use Zone District as a residential targeted area will be held at a regular meeting of the Edmonds City Council on August 16, 2016 at 7:00pm in Council Chambers, located within the Public Safety Complex at 250 51h Avenue North, Edmonds, Washington. RESOLVED this 26" day of July, 2016. ATTEST/AUTHE TICATED: CITY CLERK, S TT P SSEY FILED WITH THE CITY CLERK: July 22, 2016 PASSED BY THE CITY COUNCIL: July 26, 2016 RESOLUTION NO. 1365