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Resolution 1368RESOLUTION NO. 1368 A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON, TO DESIGNATE THE WESTGATE MIXED -USE ZONE DISTRICT AS A RESIDENTIAL TARGETED AREA FOR THE PURPOSE OF ESTABLISHING A MULTIFAMILY TAX EXEMPTION PROGRAM 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, in accordance with requirement stipulated at RCW 84.14.040(2), the Edmonds City Council passed a Resolution of Intent on July 26, 2016 to designate the WMU Zone District a residential targeted area; and WHEREAS, in accordance with RCW 84.14.040(2), the Resolution of Intent gave notice of the time and place of a hearing to be held by the governing authority to consider the designation of the residential targeted area(s) as 7:00 pm, August 16, 2016 in Edmonds City Council Chambers; and WHEREAS, in accordance with RCW 84.14.040(2), publication of the notice of the August 16, 2016 public hearing was provided in a newspaper of general circulation for at least two consecutive weeks, no less than 7 and no more than 30 days prior to the hearing, on July 29, 2016 and August 5, 2016; and WHEREAS, the hearing on the proposed residential targeted area was held as scheduled on August 16, 2016; 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 finds as follows: (a) The WMU Zone District is within an urban center; (b) The WMU Zone District lacks sufficient available, desirable, and convenient residential housing, including affordable housing, to meet the needs of the public who would be likely to live in the WMU Zone District, if the affordable, desirable, attractive, and livable places to live were available; and (c) The designation of the WMU Zone District as a residential targeted area will stimulate the construction of new multifamily housing. Section 2. In light of the above findings, the City Council of the City of Edmonds designates the Westgate Mixed -Use Zone District, as defined by Edmonds Community Development Code Chapter 16.110 and the city's official zoning map, as a residential targeted area for the purposes of establishing a Multifamily Tax Exemption Program. RESOLVED this 16th day of August, 2016. ATTEST/AUTHENTICATED: CITY CLERK, S ASSEY FILED WITH THE CITY CLERK: August 12, 2016 PASSED BY THE CITY COUNCIL: August 16, 2016 RESOLUTION NO. 1368