HomeMy WebLinkAboutA 20211217000496Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-1 of 14
Record Date: 12/17/20219:57 AM
Electronically Recorded King County, WA
AFTER RECORDING, MAIL its:
CAG-21-284
City Clerk's Office
City of Renton
1 055 S Grady Way
Renton, WA 98055
DOCUMENT,
AGREEMENT c
Washington,SOLERA BLOCK B LEGAL DESCRIPTION: Real property in the County of King, State
of follows:
THAT PORTION OF BLOCK 39, CORRECTED *, HIGHLANDS
THROUGH2, ACCORDING TO THE PLAT RECORDED IN VOLUME 57 OF PLATS, PAGES 92
w
A di;
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-2 of 14
Record Date: 12/17/20219:57 AM King County, WA
THIS AGREEMENT is entered into this 14th day of December -1 2021 by
and between SOLERA MANAGER LLC Wereinafter referred to as the "AgWicant"), and
2. Applicant has submitted to the City preliminary site plans, floor plans, and
elevations for Solera Block A and Block B with five hundred and ninety (590) new
multi -family housing units to be constructed as part of a mixed -use project
(hereinafter referred to as the "Project") on property located at 2842 Sunset Blvd,
Renton, Washington, and more fully described in Exhibit A attached hereto,
(hereinafter referred to as the "Property"); and
4. The City has determined that the Project will, if developed as proposed, satisfy
the requirements for a Final Certificate 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
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 4-1-220L
Multi -Family Housing Property Tax Exemption Agreement
SOLERA
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-3 of 14
Record Date: 12/17/20219:57 AM King County, WA
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 thirty (30) 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 constructe#_�
pursuant to this Agreement.
MEM
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 4-1-2201.
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
.iousing unit and the total expenditures made with respect to the entire Project 8A*
Property;
b. A description of the completed work and a statement of qualification for
the multi -family housing property tax exemption;
Multi -Family Housing Property Tax Exemption Agreement
SOLE2
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Record Date: 12/17/20219:57 AM King County, WA
Multi -Family Housing Property Tax Exemption Agreement
SOLER1 3
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-5 of 14
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SIM
_W --- WON
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The Applicant may use any combination of studio, one (I) -bedroom, two (2)-
bedroom, and/or three (3)-bedroom units to comply with the minimum twenty percent
requirement above.
If the Project includes more than one (1) building with multi -family housing units,
2,11 of the affordable housing units required above shall not be located in the same —
building.
b. "Household" means a single person, family, or unrelated persons living
together.
c"Low income household" means a single person, family, or unrelated
persons living together whose adjusted income is at or below eighty percent (80%) of
the median income.
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
exemption period noted in paragraph 5 above, Applicant agrees to file an annual Ilh
with the Administrator. The report shall contain such information as required by RC
84.14 and as the Administrator may deem necessary or useful, and shall at a minimu
include the following:
Multi -Family Housing Property Tax Exemption Agreement
SOLE1A 4
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-6 of 14
Record Date: 12/17/20219:57 AM King County, WA
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
11caile Nning req#.1rernorits, 1�m* x5tl lega
Multi -Family Housing Property'Tax Exemption Agreement
SOLERA 5
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-7 of 14
Record Date: 12/17/20219:57 AM King County, WA
d housing code requirements, including but not limited to the development regulatio"l,
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
*r 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
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.
M7913RUM
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 mads
to the Property. Applicant further agrees to notify the Administrator and the King Count�
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.
Multi -Family Housing Property Tax Exemption Agreement
SOLERA 6
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-8 of 14
Record Date: 12/17/20219:57 AM King County, WA
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 4-1-2201-2.
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)
co
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. Recordina of Aareement.
lip
NOW � "1, 1111011,104
ot Recoras ano tziecflon5, MIS Xgree(77ra ant, any OWIrlef VIOGIMCHLb
terms and conditions of eligibility for exemption as the Administrator deems appropriate
for recording.
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
a;ti, to,
perform evaluations of the effectiveness of the multi -family housing property tax
exemption program.
14. Notices.
Multi -Family Housing Property Tax Exemption Agreement
SOLERA 7
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-9 of 14
Record Date: 12/17/20219:57 AM King County, WA
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.
APPLICART
Solera Manager, LLC
10900 NE 8th St, Suite 1200
Bellevue, WA 98004
Phone: 425-278-9023
Attention: David B Ratliff, Manager
CITY: City of Renton
Department of Equity, Housing, and Human Services
1055 South Grady Way
Renton, Washington 98055
Phone: (425) 430-7394
Attention: Administrator
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.
CAA
SOLERA
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-10 of 14
Record Date: 12/17/20219:57 AM King County, WA
the parties g;
and year written above.
C _
12/14/2021
(approved via email from Patrice Kent)
Sham oloney, C4 Attorney
Jason Seth, City Clerk
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Multi -Family Housing Property Tax Exemption Agreement
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-11 of 14
Record Date: 12/17/20219:57 AM King County, WA
STATE OF WASHINGTON
)ss.
COUNTY OF KING
On this J r—td' dav 202 ( , before the
undersigned, a Notary Public in and for the state of Washington, duly commissioned
and sworn, personally appeared before me DAVID TLIFF, to me known to be the
Manager of SOLERA MANAGER ILILC, that exe( ilte 'the within and foregoing
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
iay and year first above written.
NOTARY PUBLIC,,/
Printed Name: " re', 01 r_6 //, 'IS
Residing ate c. My commission expiresEZ2 / 2- --A
.Multi -Family Housing Property Tax Exemption Agreement
SOLERA 10
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-12 of 14
Record Date: 12/17/20.21 9.57. AM King County, WA
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 PUBLI
Printed Name: Sandra J. Weir
Residing at Kent
My commission expires 6/19/2023
Multi -Family Housing Property Tax Exemption Agreement
SOLERA 11
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-13 of 14
Record Date: 12/17/20219:57 AM King County, WA
III, IF 11,14 W
y
SOLERA BLOCK A LEGAL DESCRIPTION: Real property in the County of King, State
of Washington, described as follows:
THAT PORTION OF BLOCKS 39 AND 4, CORRECTED PLAT OF RENTON
HIGHLANDS NO. 2, ACCORDING TO THE PLAT RECORDED IN VOLUME 57 OF
PLATS, PAGES 92 THROUGH 93, INCLUSIVE, IN KING COUNTY, WASHINGTON,
DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHEAST CORNER OF SAID BLOCK 39;
THENCE NORTH 35046'47" EAST 65.73 FEET"
THENCE NORTH 54016'02" WEST 36.6 FEET TO THE POINT OFBEGINNING;
THENCE CONTINUING NORTH 54016'02" WEST 161.99 FEET TO A CURVE TO THE
RIGHT,
HAVING A RADIUS OF 15.00 FEET;
THENCE NORTHERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF
9000'00", AN ARC
DISTANCE OF 23.6 FEET,
THENCE NORTH 3041'56" EAST 160.59 FEET TO A CURVE TO THE LEFT HAVING
A RADIUS OF
124.50 FEET,
THENCE NORTHERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF
341D40'01 ", AN ARC
DISTANCE OF 75.33 FEET;
THENCE NORTH 01001'57" EAST 176.16 FEET TO A CURVETO THE RIGHT,
HAVING A RADIUS OF
1.00 FEET;
THENCE NORTHEASTERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE
OF 90000'00", A
ARC DISTANCE OF 23.6 FEET
THENCE SOUTH 66056'03" EAST 171.02 FEET TO A CURVE TO THE RIGHT,
HAVING A RADIUS OF
15.00 FEET,
THENCE SOUTHEASTERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE
OF 67049'37", AN
ARC DISTANCE OF 22.99 FEET TO A REVERSE CURVE TO THE LEFT, HAVING A
RADIUS OF 361.64
FEET;
THENCE SOUTHERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF
32024' 15", AN ARC
DISTANCE..OF-2 63 FEET TO . ,. V S O .RVE-LO TH.E I T&, AVING, A , , .
RADIUS OF 1.00
Instrument Number: 20211217000496 Document:AG Rec: $216.50 Page-14 of 14
Record Date: 12/17/20219:57 AM King County, WA
FEET;
THENCE SOUTHERLY ALONG SAID CURVE, THROUGH A CENRAL ANGLE OF
69019'27", AN ARC
DISTANCE OF 16.15 FEET;
THENCE SOUTH 35046'47" WEST 357.40 FEET TO A CURVE TO THE RIGHT,
HAVING A RADIUS OF
15.00 FEET;
THENCE WESTERLY ALONG SAID CURVE, THROUGH A CENTRAL ANGLE OF
69055' 12", AN ARC
DISTANCE OF 23.54 FEET TO THE POINT OF BEGINNING.