HomeMy WebLinkAboutORD 5249CITY OF RENTON,WASHINGTON
ORDINANCE NO.5249
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 ORDINANCE NO.4260
ENTITLED "CODE OF GENERAL ORDINANCES OF THE CITY OF
RENTON,WASHINGTON"BY EXTENDING THE SUNSET FOR
APPLICATIONS FOR THE PROPERTY TAX EXEMPTION FOR
MULTI-FAMILY HOUSING IN RESIDENTIAL TARGETED AREAS.
WHEREAS,on December 22,2003,the Renton City Council adopted 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 multi-family housing property tax exemption for new applications
will sunset on December 31,2006,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,were useful in helping to stimulate new
construction of multi-family housing in residential targeted areas;and
WHEREAS,the Renton City Council desires to continue to encourage additional
multi-family housing in residential targeted areas and thereby extend the multi-family housing
property tax exemption for an additional three years unless further extended by Renton City
Council action;
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON,DOES ORDAIN AS FOLLOWS:
SECTION I.Subsection 4-1-220.M,Sunset ofExemption for Applications for
Conditional Certificates,of Chapter 1,Administration and Enforcement,of Title IV
ORDINANCE NO.5249
(Development Regulations)of Ordinance No.4260 entitled "Code of General Ordinances of the
City ofRenton,Washington"is hereby amended to read as follows:
D.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 December 31,2009,unless extended by City Council action.Incomplete
applications for conditional certificates as of December 31,2009,shall be returned to owners.
Notwithstanding the above,the City shall process (i)pending complete applications for a
conditional certificate as of December 31,2009,and (ii)applications for an extension of the
conditional certificate and/or a final certificate received after December 31,2009,as provided in
this Section under Sections RMC 4-1-220.D through RMC 4-1-220.1.Sections RMC 4-1-220.C
and RMC 4-1-220.1 through RMC 4-1-220.L shall continue to apply to all properties that have
been or are issued a final certificate of tax exemption under this Section until expiration,
termination or cancellation of the tax exemption.
SECTIONll.This ordinance shall be effective upon its passage,approval,and
five (5)days after its publication.
PASSED BY THE CITY COUNCIL this 11 th day of_-:D::...:;e:....:c:..;:e:...:.:m:....:::b...::::e-=::..r :,2006.
Bonnie 1.Walton,City Clerk
APPROVED BY THE MAYOR this 11 th day of __.....cD:::...e:::...c:::...e:::..;m"'-ob:::...e:::...r=----__--',2006.
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ORDINANCE NO,5249;;z:as to form
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Lawrence 1.Warren,City Attorney
Date of Publication:12/15/2006 (summary)
ORD,1316:1l/30/06:ma
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