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A proposed project must meet the following requirements for consideration for a property tax exemption under this chapter:

A. Location. The project must be located within Moses Lake’s Residential Targeted Area, as designated under Section 18.23.030 of this chapter.

B. Size. The project must include at least four (4) units of multi-family housing within a residential structure or as part of a mixed-use development. A minimum of four (4) new units must be constructed or at least four (4) additional multi-family units must be added to existing occupied multi-family housing. Existing multi-family housing that has been vacant for twelve (12) months or more does not have to provide additional units so long as the project provides at least four (4) units of new, converted, or rehabilitated multi-family housing.

C. Residential Displacement and Demolition. The project must not displace existing residential units, unless the units are certified not to meet current building and housing codes. The units can then be rehabilitated or replaced and included in the qualified portion of the project to receive the property tax abatement. If the units slated for replacement or demolition do meet current code, then the size of the project needs to be increased by the number of units that are being replaced or demolished and these replacement units would not qualify for the property tax abatement. Property proposed to be rehabilitated or developed must be vacant at least twelve (12) months before submitting an application.

D. Permanent Residential Housing. At least fifty percent (50%) of the space designated for multi-family housing must be provided for permanent residential occupancy.

E. Proposed Completion Date. New construction of multi-family housing and rehabilitation improvements must be scheduled to be completed within three (3) years from the date of approval of the application.

F. Compliance with Guidelines and Standards. The project must be designed to comply with the city’s comprehensive plan, building, housing, and zoning codes, and any other applicable regulations in effect at the time the application is approved. Rehabilitation and conversion improvements must comply with all applicable housing codes. New construction must comply with the building code. The project must also comply with any other standards and guidelines adopted by the City Council for the residential target area in which the project will be developed. (Ord. 2183, 11/23/04)