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HomeMy WebLinkAboutRES 4214CITY OF RENTON, WASHINGTON RESOLUTION NO. 4214 A RESOLUTION OF THE CITY OF RENTON, WASHINGTON, DECLARING THAT THE SUNSET AREA IS AN "ECONOMIC TARGET AREA". WHEREAS, the Sunset Area (as reflected in the attached Sunset Area Vicinity Map) is one of Renton's older commercial and residential areas and is in need of revitalization; and WHEREAS, since the late 1990s, the City has viewed the Sunset Area (a.k.a. the Highlands) as a high-priority redevelopment area targeted for improvement and investment; and WHEREAS, in December 2003, the City Council adopted Ordinance No. 5061 designating the Highlands as a "residential targeted area" for the purpose of allowing a limited property tax exemption for qualifying new owner -occupied or rental multi -family housing in the Highlands to help support capital investment and redevelopment in the area; and WHEREAS, in the Fall of 2006, the City convened the Highlands Task Force on Land Use and Zoning which resulted in the City Council adopting changes in May 2007, to the City's land use policies and zoning codes to stimulate redevelopment in the area; and WHEREAS, in August 2007, the City convened the Highlands Phase II Task Force to study additional neighborhood issues which resulted in recommendations that the City Council prioritized and adopted in the Highlands Action Plan in early 2009; and WHEREAS, the Highlands Action Plan identified expanding the Renton Highlands Library as a priority recommendation; and WHEREAS, in July 2008, the City Council adopted Ordinance No. 5400 establishing the Highlands as a designated residential targeted area for low-income housing serving households 1 RESOLUTION N0. 4214 at or below eighty percent (80%) of the median income to help support development of new high-quality affordable housing; and WHEREAS, in June 2009, the City commissioned a Community Investment Strategy study to prioritize additional public investment in the 269 -acre Sunset Area study area which resulted in the City Council's adoption of the Sunset Area Community Investment Strategy in November 2009; and WHEREAS, the highest priorities for the Sunset Area Community Investment Strategy included support for the Renton Housing Authority's Sunset Terrace Redevelopment and incorporating a new Highlands Library into the Sunset Terrace Redevelopment; and WHEREAS, in February 2010, the City Council amended RMC 4-1-210 to allow the waiver of development and mitigation fees to encourage new owned -occupied housing in the Sunset area and help support redevelopment in the area; and WHEREAS, in June 2010, the City and the Renton Housing Authority partnered together to conduct a Sunset Area Community Planned Action NEPA/SEPA Environmental Impact study. The study was completed in April 2011 and resulted in the City Council's adoption of the Sunset Area Community Planned Action in June 2011, to help facilitate and support private and public investment and redevelopment in the Sunset Area over the next 20 years; and WHEREAS, in June 2013, the City Council accepted the schematic design for the new Renton Highlands Library as a cornerstone of the Sunset Terrace Redevelopment; and WHEREAS, in August 2011, the City Council further amended RMC 4-1-210 to allow for the waiver of development and mitigation fees to encourage new multi -family rental housing in the Sunset area and help support redevelopment in the area; and RESOLUTION NO. 4214 WHEREAS, in 2012, twenty-seven percent (27%) of the households in the Sunset Area lived in poverty; the median average household income was $39,318 [more than $16,000 less than the city as a whole ($55,950) and more than $29,000 less than King County ($68,775)1; seventy-five percent (75%) of the students at the neighborhood elementary school qualified for free or reduced fee lunch; and thirty-five percent (35%) of students at the neighborhood elementary school had limited English proficiency; and WHEREAS, the City is working with the Renton Housing Authority, the Renton School District, the King County Library System, the federal government through the federal New Markets Tax Credit (NMTC) program, and other partners to leverage public and private investment in the area to help address the needs of Renton's Sunset Area residents; and WHEREAS, the City and the King County Library System plan to construct a new 14,479 - square foot Renton Highlands Library as the cornerstone redevelopment project for the Sunset Terrace Redevelopment and the Sunset Area Community Revitalization; and WHEREAS, the new Renton Highlands Library will include nearly one hundred twenty percent (120%) more space than the current library and enable the King County Library System to significantly expand programs, resources, and services for children, youth, and adults to better meet the needs of the Sunset Area residents and other library patrons; and WHEREAS, the City is pursuing federal New Markets Tax Credit financing to help support the new Highlands Library and the Sunset Terrace Redevelopment; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES RESOLVE AS FOLLOWS: SECTION I. The above recitals are found to be true and correct in all respects. 3 RESOLUTION NO. 4214 SECTION II. The Sunset Area is declared an "Economic Target Area" with the intention to leverage public investment to attract additional private investment, particularly through the federal New Markets Tax Credit program, to stimulate new commercial and residential development in the neighborhood and to facilitate the creation of partnerships with other public and private organizations to help address disparities in access to education, social services, health care, and economic and employment opportunities for Sunset Area residents. PASSED BY THE CITY COUNCIL this 28th dayof April , 2014. Bonnie I. Walton, City Clerk APPROVED BY THE MAYOR this 28th day of April , 2014. Approved as to form: Lawrence J. Warren, City Attorney RES:1630:4/14/14:scr CI r Denis Law, Mayor 0 500 1,000 Date: 02/04/2013 Feet Reference Scale: 1:0 N Community & Economic Development C. E. "Chip" Vincent Adriana Abramovich AdministratorlPlanning Director GISAnolyst r 1 Sunset Area Vicinity Map Sunset Area Boundary