HomeMy WebLinkAboutORD 5750CITY OF RENTON, WASHINGTON
ORDINANCE NO. 57 50
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON, AMENDING SECTION
4-1-210, WAIVED FEES, OF CHAPTER 1, ADMINISTRATION AND ENFORCEMENT,
OF TITLE IV (DEVELOPMENT REGULATIONS) OF THE RENTON MUNICIPAL CODE,
BY AMENDING THE DEFINITION OF 11 AFFORDABLE HOUSING".
WHEREAS, on August 27, 2001, the Renton City Council approved Ordinance No. 4913
(codified in RMC 4-1-210.B) to allow certain development and mitigation fees for housing that
is for sale to be waived to encourage new owner-occupied housing in Downtown Renton; and
WHEREAS, on February 1, 2010, the City Council approved Ordinance No. 5524 (codified
in RMC 4-1-210.B) to allow certain development and mitigation fees for housing that is for sale
to be waived to encourage new owner-occupied housing in the Sunset Area; and
WHEREAS, on August 1, 2011, the City Council approved Ordinance No. 5617 (codified
in RMC 4-1-210.C) to allow certain development and mitigation fees for rental housing to be
waived to encourage new multi-family rental housing in the Sunset Area; and
WHEREAS, on August 20, 2013, the City Council approved Ordinance No. 5668 to extend
the sunset for these development and mitigation fee waivers to December 31, 2015, unless
extended by City Council action; and
WHEREAS, the provisions of Subsection 4-1-210.B, Owner-Occupied Housing Incentive,
helped to establish the 37-unit "55 Williams" and the 50-unit "Chateau de Ville" condominium
projects as new owner-occupied housing in Downtown Renton; and
WHEREAS, the provisions of Subsection 4-1-210.C, Rental Housing Incentive, helped to
establish the 8-unit Glennwood Avenue Townhomes project and the 18-unit Kirkland Avenue
Townhomes project in the Sunset Area as new multi-family rental housing; and
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ORDINANCE NO.5 7 50
WHEREAS, the City seeks to encourage additional new multi-family rental housing in the
Sunset Area; and
WHEREAS, the City seeks to encourage the use of the federal low income housing tax
credit as provided for in Section 42 of the Internal Revenue Code to help finance new
affordable multi-family rental housing in the Sunset Area and leverage additional public and
private investment to stimulate new commercial and residential development in the Sunset
Area; and
WHEREAS, the federal low income housing tax credits use a different rent standard than
provided for in the definition of "affordable housing" in Subsection 4-1-210.C.2.a, Rental
Housing Incentive; and
WHEREAS, the City seeks to amend the definition of "affordable housing" to help
leverage additional public and private funds to support affordable multi-family rental housing
development in the Sunset Area and, more specifically, to facilitate use of federal low income
housing tax credit financing in new multi-family rental housing development in the Sunset Area;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. Subsection 4-1-210.C.2.a, "Affordable housing", of Chapter 1,
Administration and Enforcement, of Title IV (Development Regulations) of the Renton
Municipal Code, is amended as follows:
a. "Affordable housing" means residential housing that is rented by a
low-income household whose monthly housing costs, including rent and utilities
other than telephone, do not exceed thirty percent (30%) of the household's
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ORDINANCE NO. 57 50
monthly income. However, if the multi-family housing project is funded with
federal low-income housing tax credits (LIHTC) as provided for in Section 42 of
the Internal Revenue Code, a unit will be considered affordable housing if it is
rented at or below the rental rate for a household at sixty percent (60%) of the
King County median income under the LIHTC program rules with a deduction for
utility costs, if applicable. The King County LIHTC rents are published annually by
the Washington State Housing Finance Commission and are based on unit size
assuming occupancy of one (1) person for a studio unit and one and one-half
(1.5) persons per bedroom.
SECTION 11. This ordinance shall be effective upon its passage, approval, and thirty
(30) calendar days after publication.
PASSEDBYTHECITYCOUNCILthis 26th dayof January 12015.
APPROVED BY THE MAYOR this 26th day of __ J_a n_u-+r-=y:....__ __ -' 2015.
Approv~stoform:
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Lawrence J. Warren, City Attorney
DateofPublication: 1/30/2015 (Summary)
ORO: 1860: 12/29/14:scr
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Denis Law, Mayor