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AGENDA
Planning & Development Committee Regular
Meeting
3:45 PM - Monday, April 27, 2020
VIDEOCONFERENCE
1. Penney Lofts Multi-family Property Tax Exemption
a) AB - 2634 Community & Economic Development Department requests approval to
waive the application deadline and approve the Multi-Family Housing Property Tax
Exemption (MFPTE) Agreement, with Penney Lofts, LLC, which addresses the terms and
conditions for the Penney Lofts multi-family project to receive a partial property tax
exemption for eight (8) years upon project completion.
2. Emerging Issues in CED
AB - 2634
City Council Regular Meeting - 20 Apr 2020
SUBJECT/TITLE: Penney Lofts - Multi-Family Housing Property Tax Exemption
Agreement
RECOMMENDED ACTION: Refer to Planning & Development Committee
DEPARTMENT: Community & Economic Development Department
STAFF CONTACT: Mark Santos-Johnson, Community Development & Housing Manager
EXT.: 6584
FISCAL IMPACT SUMMARY:
N/A - The Multi-Family Housing Property Tax Exemption is treated by the King County Assessor similar to other
exempt properties. The City’s levy rate is increased when properties are exempt, but the total property tax
revenue remains the same for the City (i.e., since the tax liability is shifted to the non-exempt property
owners, there is no lost City property tax revenue). For property taxpayers, the increased levy rate means that
the non-exempt property owners pay a higher property tax as exempt properties are excluded from the tax
roll but not the tax liability.
SUMMARY OF ACTION:
On February 7, 2020, the City received a Multi-Family Housing Property Tax Exemption (“Exemption”)
application for the Penney Lofts, a 24-unit mixed-use renovation project in the Downtown designated
residential targeted area. As provided for in RMC 4-1-220, (1) the CED Administrator needs to approve or deny
the Exemption application within 90 days of receipt of the application; and, (2) if approved, the applicant must
enter into an agreement approved by the Council that addresses the terms and conditions for the Penney
Lofts project to receive a partial property tax exemption for 8 years upon completion. Subject to the Council’s
waiver of the application deadline and approval of the agreement, the CED Administrator intends to approve
the Exemption application for the project. Penney Lofts is an integral part of the City’s Downtown Renton
revitalization efforts.
EXHIBITS:
A. Issue Paper
B. Penney Lofts Project Elevations
C. Multi-Family Housing Property Tax Exemption Agreement for the Penney Lofts
STAFF RECOMMENDATION:
Staff recommends that the Council: (1) waive the application deadline; (2) approve the Multi-Family Housing
Property Tax Exemption Agreement that addresses the terms and conditions for the Penney Lofts project to
receive a partial property tax exemption for 8 years upon completion; and (3) authorize the Mayor to execute
said agreement in substantially the same form.
AGENDA ITEM #1. a)
DEPARTMENT OF COMMUNITY
& ECONOMIC DEVELOPMENT
M E M O R A N D U M
DATE: April 13, 2020
TO: Ruth Perez, Council President
Members of Renton City Council
VIA: Armondo Pavone, Mayor
FROM: C. E. “Chip” Vincent, CED Administrator
STAFF CONTACT: Mark Santos-Johnson, Community Development & Housing
Manager (ext. 6584)
SUBJECT: Penney Lofts – Multi-Family Housing Property Tax Exemption
Agreement
ISSUE:
Should the City Council waive the application deadline and approve the Multi-Family
Housing Property Tax Exemption Agreement for the Penney Lofts project and authorize the
Mayor to execute the agreement?
RECOMMENDATION:
Staff recommends that the Council: (1) waive the application deadline; (2) approve the
Multi-Family Housing Property Tax Exemption Agreement that addresses the terms and
conditions for the Penney Lofts project to receive a partial property tax exemption for 8
years upon completion; and (3) authorize the Mayor to execute said agreement in
substantially the same form.
BACKGROUND SUMMARY:
On February 7, 2020, the City received a Multi-Family Housing Property Tax Exemption
(“Exemption”) application from Penney Lofts LLC for the Penney Lofts project in the
Downtown designated residential targeted area. As provided for in RMC 4-1-220: (1) the
Department of Community & Economic Development (CED) Administrator needs to
approve or deny the Exemption application within 90 days of receipt of the application;
and, (2) if approved, the applicant must enter into an agreement approved by the Council
that addresses the terms and conditions for the Penney Lofts project to receive a partial
property tax exemption for 8 years upon completion. Subject to the Council’s approval of
the agreement, the CED Administrator intends to approve the Exemption application for
the Penney Lofts project.
BACKGROUND:
As authorized by Chapter 84.14 RCW, the Council established the Multi-Family Housing
Property Tax Exemption (“Exemption”) in 2003 (codified in RMC 4-1-220 as subsequently
AGENDA ITEM #1. a)
Ruth Perez, Council President
Page 2 of 3
April 13, 2020
amended) to currently encourage multi-family housing development in Downtown Renton
and the Sunset Area. The Exemption provision allows the value of qualified new housing
construction to be exempt from ad valorem property tax for a limited period of time after
completion of the project1. However, the Exemption does not include the value of the
land, existing improvements or non-housing-related improvements (e.g., commercial
space). The Exemption applies to all levels of the ad valorem property tax, including the
local jurisdiction, county, state, and all local taxing districts. The Exemption is in addition to
any other tax credits, grants, or incentives provided by law for the multi-family housing.
The Penney Lofts project includes 24 new multi-family housing units (14 studios and 10
lofts) as part of a mixed-use renovation of the former JC Penney building (a.k.a., the former
American Drapery, Blind and Carpet Inc.) located at 700 S 3rd Street in Downtown Renton.
The project site totals 11,500 square feet and the existing building totals 32,732 square
feet and is two stories high, with a basement level. The renovation will include a 11,538
square foot butterfly roof extension that would increase the building height to 36 feet and
5,860 square feet of mixed-use retail/restaurant space. Parking will be provided off-site at
the nearby City Center Parking Garage.
Pursuant to RMC 4-1-220.D.2.b.i, the CED Administrator has waived the requirement that
the Project consist of a minimum of 30 new dwelling units of multi-family housing and be a
new structure, thereby allowing for the construction of 24 new multi-family housing units
as part of a mixed-use renovation project of an existing building in the center of Downtown
Renton.
Penney Lofts LLC received a building permit for the planned renovations on September 4,
2019. Per RMC 4-1-220.E.3, Exemption applications are due prior to the issuance of the
building permit for the project. However, the owner was able to apply for an Exemption
until the Renton City Council modified the RMC in late-2019 (Ordinance 5956, 12-9-2019)
to allow for a mixed-use renovation project in Downtown Renton with less than 30 units to
be eligible for the Exemption, subject to a waiver by the CED Administrator. CED supports
the mixed-use development as an integral part of the City’s Downtown Renton
revitalization efforts and requests that the City Council waive the application deadline for
the project.
The estimated potential property tax savings related to the Exemption is approximately
$16,486 per year ($131,891 for the twelve-year period) for the Penney Lofts project. This
equates to a potential property tax savings of approximately $1,374 per year per housing
unit ($10,991 per housing unit for the 8-year period).
1 In 2007, the Washington State Legislature passed the Engrossed Second Substitute House Bill
1910, in part, to modify the limited the property tax exemption for future eligible projects to eight
years or 12 years (the longer term being available if the project provides at least 20% of the units as
affordable housing).
AGENDA ITEM #1. a)
Ruth Perez, Council President
Page 3 of 3
April 13, 2020
The project paid a $1,000 initial application fee and satisfies the City’s Exemption eligibility
requirements (allowing for the waivers noted above) as outlined in RMC 4-1-220D:
• The project is located in the Center Downtown (CD) zone as part of the Downtown
designated residential targeted area;
• The project includes twenty-four new multi-family housing units located in one or
more buildings designed for permanent residential occupancy, each with four or
more dwelling units;
• The project is a mixed-use project in the CD zone with retail storefront space; and
• At least 50% of the building will be used for permanent residential occupancy.
The City received an Exemption application for the Penney Lofts project on February 7,
2020. As provided for in RMC 4-1-220F, (1) the CED Administrator needs to approve or
deny the Exemption application within 90 days of receipt; and, (2) if approved, the
applicant must enter into an agreement approved by the Council that addresses the terms
and conditions for the Penney Lofts project to receive a partial property tax exemption
upon completion. Subject to the Council’s approval of the agreement, the CED
Administrator intends to approve the Exemption application for the Penney Lofts project.
(Please see the proposed Exemption Agreement for the Penney Lofts project.)
CONCLUSION:
Renton’s Multi-Family Housing Property Tax Exemption program was established to help
increase housing opportunities in designated residential targeted areas, including
Downtown Renton. The Penney Lofts project will provide 24 units of new housing as part
of a mixed-use renovation project and approximately $1.9 million in investment in
Downtown Renton. The project is an integral part of the City’s Downtown Renton
revitalization efforts and furthers the City’s 2020-2025 Business Plan Goals.
cc: Robert Harrison, CAO
Jason Seth, City Clerk
Jan Hawn, Administrative Services Administrator
Mike Stenhouse, Ron Straka, & Jim Seitz, Acting Public Works Administrator
Kelly Beymer, Community Services Administrator
Cliff Long, Economic Development Director
Hannah Bahnmiller, Housing Programs Manager
Enc. (1) Penney Lofts project elevations
(2) Multi-Family Housing Property Tax Exemption Agreement for the Penney Lofts
AGENDA ITEM #1. a)
AGENDA ITEM #1. a)
RECEIVED06/03/2019 striplettBUILDING DIVISIONB19002937_v1AGENDA ITEM #1. a)
LOFT PERSPECTIVESR3.2# REVISIONDATE303 Nickerson Street I Seattle, WA
ryanrhodesdesigns.com I
206.632.1818
Issueprojectnumbernumber
sheet16-39RENOVATION FOR:700 South 3rd Street, Renton, WA PENNEY LOFTSProposed:05/09/2019Land - UseMay 9 2019INTERIOR LOFT PERSPECTIVE
SCALE: NTS
INTERIOR LOFT PERSPECTIVE
SCALE: NTS
INTERIOR LOFT PERSPECTIVE
SCALE: NTS
RECEIVED
06/03/2019 striplett
BUILDING DIVISION B19002937_v1AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 1
MULTI-FAMILY HOUSING PROPERTY TAX EXEMPTION
AGREEMENT FOR PENNEY LOFTS
THIS AGREEMENT is entered into this ____ day of _______________, 202___
by and between PENNY LOFTS LLC, a Washington limited liability company
(hereinafter referred to as the “Applicant”), and the CITY OF RENTON, a municipal
corporation (hereinafter referred to as the “City”).
Recitals.
1. Applicant has applied to the City for a limited property tax exemption as provided
for in Chapter 84.14 RCW and RMC 4-1-220 for multi-family housing residential
rental housing located in the Center Downtown (CD) zone as part of the
Downtown residential targeted area and the Department of Community and
Economic Development (CED) Administrator has approved the application; and
2. Applicant has submitted to the City preliminary site plans, floor plans, and
elevations for Penney Lofts with twenty four (24) new multi-family housing units
to be constructed as part of a mixed-use renovation project of an existing building
(hereinafter referred to as the “Project”) on property located at 700 S 3rd Street,
Renton, Washington, and more fully described in Exhibit A attached hereto,
(hereinafter referred to as the “Property”); and
3. Pursuant to RMC 4-1-220.D.2.b.i, the CED Administrator has waived the
requirement that the Project consist of a minimum of thirty (30) new dwelling
units of multi-family housing and be a new structure(s), thereby allowing for the
construction of twenty four (24) new multi-family housing units as part of a mixed-
use renovation project of an existing building in the center of Downtown Renton;
and
4. The Applicant is the owner of the Property; and
5. The City has determined that the Project will, if developed as proposed, satisfy
the requirements for a Final Certificate of Tax Exemption.
NOW, THEREFORE, the City and Applicant do mutually agree as follows:
1. Conditional Certificate of Acceptance of Tax Exemption
City agrees, upon execution of this Agreement following approval by the City
Council, to issue a Conditional Certificate of Acceptance of Tax Exemption, which
conditional certificate shall expire three (3) years from the date of approval of this
Agreement by the City Council, unless extended by the Administrator of the Department
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 2
of Community and Economic Development (or any other City office, department or
agency that shall succeed to its functions), or his or her designee, (hereafter referred to
as “Administrator”) as provided in RMC 4-1-220I.
2. Agreement to Construct Multi-Family Housing.
a. Applicant agrees to construct the Project on the Property substantially as
described in the site plans, floor plans, and elevations on file with the City’s Department
of Community and Economic Development or its functional successor (hereafter
referred to as “Department”) as of the date of the City Council’s approval of this
Agreement, subject to such modifications thereto as may be required to comply with
applicable codes and ordinances; provided, that in no event shall such construction
provide fewer than twenty four (24) new multi-family housing dwelling units designed for
permanent residential occupancy, nor shall permanent residential housing comprise
less than fifty percent (50%) of the gross floor area of the mixed-use project constructed
pursuant to this Agreement.
b. Applicant agrees to construct the Project on the Property to comply with all
applicable zoning requirements, land use regulations, and building and housing code
requirements, including but not limited to the City’s development regulations in Title IV
of the RMC and the City’s applicable design standards and guidelines. The Applicant
further agrees that approval of this Agreement by the City Council, its execution by the
Mayor, or issuance of a Conditional Certificate of Acceptance of Tax Exemption by the
City pursuant to RMC 4-1-220F3 in no way constitutes approval of proposed
improvements on the Property with respect to applicable provisions of the City’s
development regulations included in Title IV of the RMC or any other applicable
regulation or obligates the City to approve proposed improvements to the Property.
c. Applicant agrees that the Project will be completed within three (3) years
from the date of approval of this Agreement by the Council, unless extended by the
Administrator for cause as provided in RMC 4-1-220I.
3. Requirements for Final Certificate of Tax Exemption.
Applicant may, upon completion of the Project and upon issuance by the City of a
temporary certificate of occupancy, or a permanent certificate of occupancy if no
temporary certificate is issued, request a Final Certificate of Tax Exemption. The
request shall be in writing directed to the Administrator and be accompanied by the
following:
a. A statement of expenditures made with respect to each multi-family
housing unit and the total expenditures made with respect to the entire Project and
Property;
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 3
b. A description of the completed work and a statement of qualification for
the multi-family housing property tax exemption;
c. A statement that the Project was completed within the required three-(3)
year period or any authorized extension and documentation that the Project was
completed in compliance with the terms of this Agreement;
d. The total monthly rent of each multi-family housing unit rented to date;
e. The income of each renter household to date at the time of initial
occupancy; and
f. Any such further information that the Administrator deems necessary or
useful to evaluate the Project’s eligibility for the Final Certificate of Tax Exemption.
4. Agreement to Issue Final Certificate of Tax Exemption.
The City agrees to file a Final Certificate of Tax Exemption with the King County
Assessor within forty (40) days of submission by the Applicant of all materials required
by paragraph 3 above, if Applicant has:
a. Successfully completed the Project in accordance with the terms of this
Agreement and RMC 4-1-220;
b. Filed a request with the City for a Final Certificate of Tax Exemption with
the Administrator and submitted the materials described in paragraph 3 above;
c. Paid the City a fee in the amount of one thousand dollars ($1,000); and
d. Met all other requirements provided in RMC 4-1-220 for issuance of the
Final Certificate of Tax Exemption.
5. Duration of the Property Tax Exemption
Subject to the terms of this Agreement and the requirements of RMC 4-1-220,
the value of improvements qualifying under RMC 4-1-220 is exempt from ad valorem
property taxation for eight (8) successive years beginning January 1st of the year
immediately following the calendar year of issuance of the final certificate of tax
exemption.
6. Annual Certification and Report.
Within thirty (30) days after the first anniversary of the date the City issued the
Final Certificate of Tax Exemption and each year thereafter for the duration of the tax
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 4
exemption period noted in paragraph 5 above, Applicant agrees to file an annual report
with the Administrator. The report shall contain such information as required by RCW
84.14 and as the Administrator may deem necessary or useful, and shall at a minimum
include the following:
a. A statement of the occupancy and vacancy of the multi-family housing
units during the twelve months ending with the anniversary date;
b. A certification that the multi-family housing units, Project, and Property
have not changed use since the date the City issued the Final Certificate of Tax
Exemption,
c. A statement that the multi-family housing units, Project, and Property
continue to be in compliance with this Agreement and the requirements of RCW 84.14
and RMC 4-1-220;
d. A description of any improvements or changes to the Project made after
the City issued the Final Certificate of Tax Exemption;
e. The total monthly rent of each multi-family housing unit rented or the total
sale amount of each multi-family housing unit sold to an initial purchaser during the
twelve months ending with the anniversary date;
f. The income of each renter household at the time of initial occupancy and
the income of each initial purchaser of owner-occupied multi-family housing units at the
time of purchase during the twelve months ending with the anniversary date;
g. Any additional information requested by the City pursuant to meeting any
reporting requirements under RCW 84.14; and
h. Any such further information that the Administrator deems necessary or
useful to evaluate the Applicant’s compliance with this Agreement and the requirements
of RCW 84.14 and RMC 4-1-220.
7. No Violations for Duration of Exemption.
For the duration of the property tax exemption granted under RMC 4-1-220 and
noted in paragraph 5 above, Applicant agrees that the Project and the Property will
have no violations of applicable zoning requirements, land use regulations, and building
and housing code requirements, including but not limited to the development regulations
in Title IV of the RMC, for which the Department of Community and Economic
Development or its functional successor shall have issued a notice of violation, citation
or other notification that is not resolved by a certificate of compliance, certificate of
release, withdrawal or otherwise, within the time period for compliance, if any, provided
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 5
in such notice of violation, citation or other notification or any extension of the time
period for compliance granted by the Department of Community and Economic
Development.
8. Notification of Transfer of Interest or Change in Use.
Applicant agrees to notify the Administrator within thirty (30) days of any transfer
of Applicant’s ownership interest in the Project, the Property or any improvements made
to the Property. Applicant further agrees to notify the Administrator and the King County
Assessor within sixty (60) days of any change of use of any or all of the multi-family
housing units on the Property to another use. Applicant acknowledges that such a
change in use may result in cancellation of the property tax exemption and imposition of
additional taxes, interest, and penalty pursuant to State law.
9. Cancellation of Exemption - Appeal.
a. The City reserves the right to cancel the Final Certificate of Tax Exemption
if at any time the multi-family housing units, the Project, or the Property no longer
complies with the terms of this Agreement or with the requirements of RMC 4-1-220, or
for any other reason no longer qualifies for a property tax exemption.
b. If the property tax exemption is canceled for non-compliance, Applicant
acknowledges that state law requires that an additional real property tax is to be
imposed in the amount of: [a} the difference between the property tax paid and the
property tax that would have been paid if it had included the value of the nonqualifying
improvements, dated back to the date that the improvements became nonqualifying; [b]
a penalty of 20% of the difference calculated under paragraph (a) of this paragraph 9;
[c] interest at the statutory rate on delinquent property taxes and penalties, calculated
from the date the tax would have been due without penalty if the improvements had
been assessed without regard to the exemptions provided by Chapter 84.14 RCW and
RMC 4-1-220. Applicant acknowledges that, pursuant to RCW 84.14.110, any additional
tax owed, together with interest and penalty, become a lien on the Property and attach
at the time the Property or portion of the Property is removed from multi-family housing
use or the amenities no longer meet applicable requirements, and that the lien has
priority to and must be fully paid and satisfied before a recognizance, mortgage,
judgment, debt, obligation, or responsibility to or with which the Property may become
charged or liable. Applicant further acknowledges that RCW 84.14.110 provides that
any such lien may be foreclosed in the manner provided by law for foreclosure of liens
for delinquent real property taxes.
c. Upon determining that a tax exemption is to be canceled, the
Administrator shall notify the property owner by certified mail, return receipt requested.
The property owner may appeal the determination in accordance with RMC 4-1-220L2.
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 6
10. Amendments.
No modification of this Agreement shall be made unless mutually agreed upon by
the parties in writing and unless in compliance with the provisions of RMC 4-1-220H,
including but not limited to the Applicant’s payment of a five hundred dollars ($500)
contract amendment fee.
11. Binding Effect.
The provisions, covenants, and conditions contained in this Agreement are
binding upon the parties hereto and their legal heirs, representatives, successors,
assigns, and subsidiaries.
12. Recording of Agreement.
The Administrator shall cause to be recorded at the Applicant’s expense, or
require Applicant to record, in the real property records of the King County Department
of Records and Elections, this Agreement and any other documents as will identify such
terms and conditions of eligibility for exemption as the Administrator deems appropriate
for recording.
13. Audits and Inspection of Records.
Applicant agrees to maintain, retain, and make available for inspection upon
seven days’ written request from the City, any records pertaining to this contract.
Applicant understands and agrees that the City has the right to audit or review
appropriate records to assure compliance with this Agreement and RMC 4-1-220 and to
perform evaluations of the effectiveness of the multi-family housing property tax
exemption program.
14. Notices.
All notices to be given pursuant to this Agreement shall be in writing and shall be
deemed given when hand-delivered within normal business hours, when actually received
by facsimile transmission, or two business days after having been mailed, postage
prepaid, to the parties hereto at the addresses set forth below, or to such other place as a
party may from time to time designate in writing.
APPLICANT: Penny Lofts LLC
P.O. Box 9606
Seattle, WA 98109
Phone: 206-660-8408
Attention: David Smith, Managing Member
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 7
CITY: City of Renton
Department of Community and Economic Development
1055 South Grady Way
Renton, Washington 98055
Phone: (425) 430-6592 Fax: (425) 430-7300
Attention: Administrator
15. Severability.
In the event that any term or clause of this Agreement conflicts with applicable
law, such conflict shall not affect other terms of this Agreement which can be given
effect without the conflicting terms or clause, and to this end, the terms of the
Agreement are declared to be severable.
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 8
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day
and year written above.
PENNEY LOFTS LLCA Washington Limited Liability Company
____________________________
By: David Smith, Managing Member
CITY OF RENTON
____________________________
Armondo Pavone, Mayor
APPROVED AS TO FORM: ATTEST:
____________________________ ___________________________
Shane Moloney, City Attorney Jason Seth, City Clerk
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 9
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On this ________ day of _____________________, 202_____, before the
undersigned, a Notary Public in and for the state of Washington, duly commissioned
and sworn, personally appeared before me David Smith, to me known to be the
Managing Member of Penney Lofts LLC that executed the within and foregoing
instrument and acknowledged said instrument to be the free and voluntary act and deed
of said party, for the uses and purposes therein mentioned, and on oath stated that he
was authorized to execute said instrument.
In witness whereof I have hereunto set my hand and affixed my official seal the
day and year first above written.
[notary seal]
NOTARY PUBLIC
Printed Name:
Residing at
My commission expires
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Penney Lofts 10
STATE OF WASHINGTON )
) ss.
COUNTY OF KING )
On this ________ day of _____________________, 202_____, before the
undersigned, a Notary Public in and for the state of Washington, duly commissioned
and sworn, personally appeared before me Armondo Pavone, to me known to be the
Mayor of the City of Renton, the municipal corporation that executed the within and
foregoing instrument, and acknowledged said instrument to be the free and voluntary
act and deed of said municipal corporation for the uses and purposes therein mentioned
and on oath stated that he was authorized to execute said instrument.
In witness whereof I have hereunto set my hand and affixed my official seal the
day and year first above written.
[notary seal]
NOTARY PUBLIC
Printed Name:
Residing at
My commission expires
AGENDA ITEM #1. a)
Multi-Family Housing Property Tax Exemption Agreement
Exhibit A – Legal Description
Penney Lofts i
MULTI-FAMILY HOUSING PROPERTY
TAX EXEMPTION AGREEMENT
EXHIBIT A
LEGAL DESCRIPTION
LOTS 9 AND 10, BLOCK 25, TOWN OF RENTON, ACCORDING TO THE PLAT
THEREOF RECORDED IN VOLUME 1 OF PLATS, PAGE 135, IN KING COUNTY,
WASHINGTON; EXCEPT THE EAST 5 FEET THEREOF CONVEYED TO THE CITY
OF RENTON BY DEED RECORDED UNDER RECORDING NUMBER 3078943.
SITUATE IN THE COUNTY OF KING, STATE OF WASHINGTON
AGENDA ITEM #1. a)