Res 01-347
RESOLUTION NO.
01-347
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
FEDERAL WAY, WASHINGTON, REGARDING INTENT TO
DESIGNATE OF A RESIDENTIAL TARGETED AREA,
ENCOMPASSING THE AREAS CURRENTLY ZONED CITY
CENTER CORE AND FRAME, FOR LIMITED TAX
EXEMPTION FOR MUL TIF AMIL Y DEVELOPMENT.
WHEREAS, in 1995 the Washington State Legislature adopted Chapter 84.14 RCW, to
encourage increased residential opportunities in cities required to plan under the Growth
Management Act, by providing for special property tax valuations for eligible multifamily
housing in targeted urban, residential areas; and
WHEREAS, Chapter 84.14 further authorized cities with a population of at least fifty
thousand to adopt procedures to implement the special property tax valuations; and
WHEREAS, in 1998 the Federal Way City Council adopted the Federal Way
Comprehensive Plan, to implement the planning requirements of the Growth Management Act,
RCW 36.70A; and
WHEREAS, the Comprehensive Plan designates City Center Core ("CC-C") and City
Center Frame ("CC-F") areas, to "redevelop the City Center and create a compact urban
community and vibrant center of activity," with the crux of the strategy being the promotion of
"a compact urban center with connections between where we live, work and recreate,"; and
WHEREAS, the Comprehensive Plan contains goals (CCP9 and 10) encouraging the City
to "provide incentives to encourage residential development in City Center, core/ftame areas",
and to "Revise land use regulations to allow the frame area to accommodate higher density
residential uses accompanied by residentially oriented retail and services uses"; and
WHEREAS, the City Council desires to consider whether to adopt a residentiai targeted
area in which property tax exemptions may be granted for construction ofqualitying multi-
family housing; and
WHEREAS, RCW 84.14.040(2) provides that the City Council rnay adopt a resolution of
intention to so designate a residential targeted area, and that the resolution must state the 'time
and place of a hearing to be held by the City Council to consider the designation of such an area;
Res. ~1-347, Page 1
ORIGINAL
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF FEDERAL WAY
HEREBY RESOLVES AS FOLLOWS:
Section 1.
The City Council intends to consider the designation pursuant to RCW
84.14 of the area of the Federal Way City Center currently zoned City Center Core and Frame (see
map, Exhibit I) as a residential targeted area for the purposes of limited tax exemption for new
multifamily development. Such designation, and accompanying criteria to be adopted by the City
Council to govern the granting of any limited tax exemptions, will be considered by the Council at a
public hearing as described below.
Section 2. The public hearing on the proposed designation of a residential targeted
area, and accompanying criteria for the granting of limited tax exemptions within such residential
targeted area, shall be held at the regular meeting of the Federal Way City Council at 7:00 p.m. on
November 6, 2001, in the Council Chambers in the City Hall, 33530 1st Way South, Federal Way,
Washington.
Section 3. The City Clerk provide public notice of the public hearing by causing a
notice of the hearing to be published once each week for two consecutive weeks, at least seven (7)
and no more than thirty (30) days before the date of the hearing, as provided by RCW
84.l4.040(c)(3).
Section 4. Severability. If any section, sentence, clause or phrase of this resolution
should be held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity
or unconstitutionality shall not affect the validity or constitutionality of any other section, sentence,
clause or phrase of this resolution.
Res. ~1-347, Page 2
Section 5. Ratification. Any act consistent with the authority and prior to the
effective date of the resolution is hereby ratified and affirmed.
Section 6. Effective Date. This resolution shall be effective immediately upon
passage by the Federal Way City Council.
RESOLVED BY THE CITY COUNCIL OF THE CITY OF FEDERAL WAY,
WASHINGTON,this~dayof October ,2001.
~:2^v~
ATTEST:
APPROVED AS TO FORM:
'~c.~
c1 A TTORÑEY, BOB C. STERBANK
FILED WITH THE CITY CLERK: 9/25/01
PASSED BY THE CITY COUNCIUO/2/01
RESOLUTION NO. 01-347
k: \reso \ taxexemptareanotice
Res. #~, Page 3
Exhibit 1
Residential Targeted Area
Legend:
IV Residential Targeted
Area
Map Dale: September, 2001.
Prepared by:
Otv of Federal Way,
GI$ DMsIon
I
0
I
500
I
1,000 Feet
I
EXrnBIT
j
~ERAL.
~....-