HomeMy WebLinkAboutORD 5669CITY OF RENTON, WASHINGTON
ORDINANCE NO. 5669
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 PROPERTY TAX EXEMPTION.
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 provisions of Section 4-1-220, Property Tax Exemption for Multi-Family
Housing in Residential Targeted Areas, have been successful in encouraging increased
residential opportunities and in stimulating new construction of multi-family housing in
residential targeted areas; and
WHEREAS, the existing purpose and applicability of the property tax exemption will
remain the same; and
WHEREAS, the City further seeks to amend RMC 4-1-220 to extend the property tax
exemption to encourage additional future multi-family housing projects in the residential
targeted areas;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DOES
ORDAIN AS FOLLOWS:
SECTION I. Subsection 4-1-220M, Sunset of Exemption for Applications for
Conditional Certificates, of Chapter 1, Administration and Enforcement, of Title IV
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ORDINANCE NO. 5669
(Development Regulations) of Ordinance No. 4260 entitled "Code of General Ordinances of the
City of Renton, Washington", is hereby amended as follows:
M. SUNSET OF EXEMPTION FOR APPLICATIONS FOR CONDITIONAL
CERTIFICATES:
The City shall not accept new applications for conditional certificates as
provided in RMC 4-1-220E after the close of business on December 31, 2012
2015, unless extended by City Council action. Incomplete applications for
conditional certificates as of December 31, 2012, shall bo returned to owners.
Notwithstanding the above, tThe City shall process (1) pending complete
applications for a conditional certificate as of submitted before the close of
business on December 31, 2012 2015, and (2) applications for an extension of
the conditional certificate and/or a final certificate received after the close of
business on December 31, 2012 2015, as provided in subsections D through J of
this Section. Subsections C and J through L of this Section shall continue to apply
to all properties that have been or are issued a final certificate of tax exemption
under this Section RMC 4-1-220 until expiration, termination or cancellation of
the tax exemption.
Incomplete applications for conditional certificates as of the close of business
on December 31, 2015, shall be denied and/or returned to owners.
SECTION II. This ordinance shall be effective upon its passage, approval, and thirty
(30) calendar days after publication.
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ORDINANCE NO. 5669
PASSED BY THE CITY COUNCILthis 20th day of August ; 2012.
Bonnie I. Walton, City Clerk *
APPROVED BY THE MAYOR this 20th day of August , 2012.
Denis Law, Mayor
Approved as to form:
Lawrence J. Warren, City Attorney
Date of Publication: 8/24/2012 (summary)
ORD:1771:7/31/12:scr
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