Large Area Of North Everett Proposed For Student/Multi-Family Housing Property Tax Exemption

January 12, 2015

Everett, Everett Government

Everett student housing proposal

The areas in brown could be future student housing. Click photo to enlarge.

The City of Everett is inviting residents of the Delta and Northwest neighborhoods to a meeting Thursday night to learn about a proposal to allow developers in an area around Everett Community College to apply for multiple-family property tax exemptions. These are the same exemptions used by builders of places such as Library Place and Potola Village near downtown Everett. Here’s the notice sent out to north Everett residents by Everett Planning Director Allan Giffen…

THE PROPOSAL. The City of Everett has been asked to establish an area in the vicinity of Everett Community College for the multiple-family property tax exemption, as allowed under State law, to encourage development of housing. The intent of the State law is to provide an incentive that cities can use to encourage the development of housing in certain areas. The intent of the entity that made the request is to develop student housing on privately owned property where multi-family housing is already allowed by the City’s existing zoning.

THE DISTRICT. The area proposed to be included in the multiple-family property tax exemption is shown on the map on the following page. It includes just the areas zoned for commercial and multiple-family uses that either front on Broadway, or which are included in the Everett Community College master plan.   The district extends from 13th Street on the south up to the north end of the Broadway Mixed Use (BMU) zone in the 600 block of Broadway. It would not change any existing zoning or development standards such as off-street parking requirements or permitted building height.

THE INCENTIVE. The multiple-family property tax exemption creates a financial incentive for housing by providing an exemption on property taxes for building improvements made to create new multiple family housing. The exemption would be either 12 years for developments that provide a minimum of 20% of dwelling units that meet standards for “affordable housing,” or 8 years for developments that do not. The tax exemption does not apply to the land, commercial development, or the non-residential portions of mixed use buildings. After the exemption expires, property taxes would resume for the residential improvements.

CITY’S COMPREHENISVE PLAN. Everett’s comprehensive plan encourages the continued growth of higher education on the Everett Community College property. Since college properties owned by the State are already exempt from property taxes, this proposed change would not affect college properties. The multiple-family property tax exemption would potentially benefit privately owned properties that are redeveloped with multiple family housing. The City anticipates that many of the privately owned properties fronting on Broadway will redevelop in the future. The property tax exemption would create an incentive that may encourage housing to be included in property owners’ redevelopment plans, and it may encourage redevelopment to occur sooner than would be expected without the exemption.

PROCESS. In order to establish the multiple-family property tax exemption area, the City Council must adopt an ordinance defining the boundaries of the area for which it wishes to apply the property tax exemption in order to encourage housing development.

COMMUNITY BENEFIT. The City proposes the North Broadway multiple-family property tax exemption area in order to encourage the development of student housing and the redevelopment of privately owned properties in this commercially zoned corridor sooner than is likely without the tax exemption. The City established a tax exemption area in downtown in 1998, which has resulted in the development of hundreds of housing units in downtown, such as the Artspace, Library Place, Potala Village and Farmer’s Market developments.

PUBLIC INPUT. The City seeks input from the Delta and Northwest neighborhoods. A special meeting has been scheduled on Thursday, January 15, 2015, beginning at 6:30 pm. It will be held in Whitehorse Hall Room 105 located on the Everett Community College campus. Persons with questions should contact Allan Giffen, Planning Director, City of Everett, at 425 257-8731, or by email at agiffen@everettwa.gov. Free parking in LOT E

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My Everett News is a hyperlocal news website featuring breaking news and events in Everett, WA. We also cover City of Everett information and items of interest to those who live and work in Everett. It's written by Leland Dart a former Snohomish County based radio reporter born and raised in Everett.

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