CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to the Multifamily Housing Property Tax Exemption Program; amending Section 5.73.070 of the Seattle Municipal Code to temporarily allow certain extensions of the Multifamily Housing Property Tax Exemption program completion deadline as permitted by state law; and ratifying and confirming certain prior acts.
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WHEREAS, the State Legislature passed Engrossed Second Substitute Senate Bill 5287 in 2021, which provides that local jurisdictions may extend the deadline for completion of any outstanding MFTE application requirements for applications submitted on or before February 15, 2020; and
WHEREAS, the City intends to temporarily allow certain Projects to apply for an extension of outstanding MFTE application requirements subject to certain requirements; and
WHEREAS, the COVID-19 Pandemic has impacted real-estate project timelines and caused delays; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Section 5.73.070 of the Seattle Municipal Code, last amended by Ordinance 125932, is amended as follows:
5.73.070 Extension of Conditional Certificate
A. The expiration date of the Conditional Certificate may be extended by the Director by up to 24 months provided the owner submits to the Director a written request, stating the grounds for the extension, at least 60 days prior to expiration of the Conditional Certificate according to subsection 5.73.060.D, together with a fee of $500 for the City's administrative cost to process the request. The Director may grant an extension if the Director determines that:
1. The anticipated failure to complete new multifamily housing or rehabilitation improvements within the required time period is due to circumstances beyond the control of the owner; and
2. The owner has been acting and could reasonably be expected to continue to act in good faith and with due dili...
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