Resolution 1390RESOLUTION NO. 1390
A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON, NOTIFYING
THE PUBLIC OF ITS INTENT TO DESIGNATE THE HIGHWAY 99
SUBAREA 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, the Edmonds City Council is in the process of adopting a new Subarea Plan
and related zoning code amendments for the Highway 99 Corridor, which designates the
Corridor as an urban center whose purpose includes fostering development of a full range of
commercial and residential uses, including market -rate and affordable housing in stand-alone and
mixed -use developments; and
WHEREAS, multifamily residential development is lagging in the Highway 99 Subarea,
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
Highway 99 Subarea; 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 Highway 99
Subarea, pursuant to pending City Council approval and adoption of the Subarea Plan, 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 Highway 99 Subarea as a
residential targeted area will be held at a regular meeting of the Edmonds City Council on
August 15, 2017 at 7:00 pm in Council Chambers, located within the Public Safety Complex at
250 5th Avenue North, Edmonds, Washington.
RESOLVED this 18th day of July, 2017.
APPROVED:
CO
DAV 1D O. EARLING, MAYOR
ATTEST/AUTHENTICATED:
5;1
CfT7 CLERK, S PASSEY
FILED WITH THE CITY CLERK: July 14, 2017
PASSED BY THE CITY COUNCIL: July 18, 2017
RESOLUTION NO.: 1390
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