Resolution 1391RESOLUTION NO. 1391
A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON, TO
DESIGNATE THE HIGHWAY 99 SUBAREA 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, the Edmonds City Council adopted a new Subarea Plan and related zoning
code amendments for the Highway 99 Corridor on August 15, 2017, designating 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 the requirements stipulated at RCW 84.14.040(2), the
Edmonds City Council passed a Resolution of Intent on July 18, 2017 to designate the Highway
99 Subarea as 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 as 7:000 pm, August 15, 2017 in Edmonds City
Council Chambers; and
WHEREAS, in accordance with RCW 84.14.040(2), publication of the notice of the
August 15, 2017 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 30,
2017 and August 6, 2017; and
WHEREAS, the hearing on the proposed residential targeted area was held as scheduled
on August 15, 2017;
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 Highway 99 Subarea, as identified in the Council -approved Highway 99 Subarea Plan,
constitutes an urban center;
(b) The Highway 99 Subarea 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 Highway 99 Subarea, if the affordable, desirable, attractive, and livable places to live
were available; and
(c) The designation of the Highway 99 Subarea as a residential targeted area will stimulate the
construction of new multifamily housing, including affordable housing.
Section 2. In light of the above findings, the City Council of the City of Edmonds designates
the Highway 99 Subarea, as identified in the Highway 99 Subarea Plan approved by City
Council on August 15, 2017, as a residential targeted area for the purposes of establishing a
Multifamily Tax Exemption Program.
RESOLVED this 15th day of August 2017.
APPR VED:
DAVID O. EARLING,
ATTEST/AUTHENTICATED:
CLERK, 9CqYT PASSEY
FILED WITH THE CITY CLERK:
August 11, 2017
PASSED BY THE CITY COUNCIL: August 15, 2017
RESOLUTION NO.:
1391
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