HomeMy WebLinkAboutORD 5781 CITY OF RENTON, WASHINGTON
ORDINANCE NO. 5781
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AMENDING SECTION
4-1-220, PROPERTY TAX EXEMPTION FOR MULTI-FAMILY HOUSING IN
RESIDENTIAL TARGETED AREAS, OF CHAPTER 1, ADMINISTRATION AND
ENFORCEMENT, OF TITLE IV (DEVELOPMENT REGULATIONS) OF THE RENTON
MUNICIPAL CODE, BY EXTENDING THE PROPERTY TAX EXEMPTION.
WHEREAS, on December 22, 2003, the Renton City Council approved Ordinance No.
5061 (codified in RMC 4-1-220) to establish a limited property tax exemption to encourage
multi-family housing development in designated residential targeted areas; and
WHEREAS, the property tax exemption will sunset on December 31, 2015, unless
extended by City Council action; and
WHEREAS, the provisions of Section 4-1-220, Property Tax Exemption for Multi-Family
Housing in Residential Targeted Areas, have been successful in encouraging increased
residential opportunities and in stimulating new construction of multi-family housing in
residential targeted areas; and
WHEREAS, the existing purpose and applicability of the property tax exemption will
remain the same; and
WHEREAS, the City seeks to amend RMC 4-1-220 to extend the property tax exemption
to encourage additional future multi-family housing projects in the residential targeted areas;
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
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ORDINANCE NO. 5781
SECTION I. Subsection 4-1-220.M, Sunset of Exemption for Applications for
Conditional Certificates, of Chapter 1, Administration and Enforcement, of Title IV
(Development Regulations) of the Renton Municipal Code, is hereby amended as follows:
M. SUNSET OF EXEMPTION FOR APPLICATIONS FOR CONDITIONAL
CERTIFICATES:
The City shall not accept new applications for conditional certificates as
provided in RMC 4-1-220_E after the close of business on December 31, �9�-�
2018, unless extended by City Council action. The City shall process (1) pending
complete applications for a conditional certificate submitted before the close of
business on December 31, ��5 2018, and (2) applications for an extension of
the conditional certificate and/or a final certificate received after the close of
business on December 31, �9�-5 2018, as provided in subsections D through 1 of
I this Section. Subsections C and J through L^�+":< <^^+:^^ shall continue to apply
to all properties that have been or are issued a final certificate of tax exemption
under RMC 4-1-220 until expiration, termination or cancellation of the tax
exemption.
Incomplete applications for conditional certificates as of the close of business
on December 31, ��2018, shall be denied and/or returned to owners.
SECTION II. This ordinance shall be effective upon its passage, approval, and thirty
(30) days after publication.
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ORDINANCE N0. 5781
PASSED BY THE CITY COUNCIL this �th day of December , 2015.
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Jason Seth, City Clerk
APPROVED BY THE MAYOR this �th day of December , 2015.
D is Law, Mayor
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Date of Publication: 12/11/2015 (summary) �'�,� 6'��,��
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