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HomeMy WebLinkAboutQUINCY SQUARE APTSReturn Address: City Clerk City of Bremerton 345 61 Street, Suite 100 Bremerton, WA 98337 CITY OF BREMERTON Certificate Rec Fee: $ 01/29/201910:44 RM Paul Andrews, Kitsap Co AUDITOR/RECORDER'S INDEXING FORM Document Title(s): 1. Final Certificate of 8 Year Property Tax Exemption Reference Number(s) of Documents assigned or released: Grantor(s): 1. CITY OF BREMERTON ❑ Additional names on page of document. Grantee(s): 1. SOUND WEST QUINCY SQUARE, LLC ❑ Additional names on page of document. Legal Description: SlI T24N ROLE QSW (abbreviated) X� Additional legal is on page 3 of document. Assessor's Property Tax Parcel/Account Number: 3718-006-009-0104 201901290083 101.00 paae 1 of 3 Auditor 1 I I I I/ I I I I I I I AA /III FINAL CERTIFICATE OF 8 -YEAR PROPERTY TAX EXEMPTION TAx PARCEL ID#3718-006.009-0104 FOR SOUND WEST QUINGY SQUARE, LLC TAX EXEMPTION BEGINS: TAX YEAR 2019 TAX EXEMPTION EXPIRES: TAX YEAR 2026 CONGRATULATIONS ON COMPLETING YOUR 8 -YEAR PROPERTY TAX EXEMPTION FOR 'THE HOUSING DEVELOPMENT LOCATED AT PARCEL NUMBER 3718-006-009-0104, BREMERTON, WA. THE TAX EXEMPTION ON THE 27 NEW RESIDENTIAL UNITS BEGINS THE CALENDAR YEAR FOLLOWING COMPLETION OF THE PROJECT AS DETERMINED BY THE KITSAP COUNTY ASSESSOR'S OFFICE. THE TAX EXEMPTION REMAINS IN EFFECT FOR 8 YL""ARS AS LONG AS THE PROPERTY CONTINUES TO BE USED FOR HOUSING AND THE PROPERTY OWNER PROVIDES THE CITY WITH ANNUAL UPDATES AS REQUIRED IN THE AGREEMENT DATED JULY 25, 2017. K DREAL.SP`-tl: ER, '' OR DEPARTMENT "FCO'- MUNI DEVELOPMENT CRY OF BREMERTO DATE Kid SOUND WEST QUINCY SQUARE LLC TAX ID# 3718-006-009-0104 LEGAL DESCRIPTION: RESULTANT SINGLE PARCEL OF DECLARATION OF LOT AGGREGATION RECORDED UNDER AUDITOR'S FILE NO. 201706210145, RECORDS OF KITSAP COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS: LOTS 9 TO 17, INCLUSIVE, BLOCK 6, TOWN OF BREMER T ON, ACCORDING TO THE PWT RECORDED IN VOLUME 2 OF PLATS, PAGE 30, RECORDS OF KITSAP COUNTY, WASHINGTON. CITY OF BREMERTON MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT THIS AGREEMENT is entered into this o?s day of , 2Q13', -by and between' SOUND WEST QUINCY SQUARE LLC (hereinafter referVed to as the "Owner"), and the CITY OF BREMERTON, a municipal corporation of the State of Washington (hereinafter referredj�to as the "City"). WITNESSETH: WHEREAS the City has an interest in stimulating new construction or rehabilitation of multi -family housing in Residential Target Areas in order to reduce development pressure on single-family residential neighborhoods, to increase and improve housing opportunities, and to encourage development densities supportive of transit use; and WHEREAS the City has, pursuant to the authority granted to it by Chapter 84.14 RCW, designated various Residential Target Areas for the provision of a limited property tax exemption for new multi -family residential housing; and WHEREAS the City has, through Bremerton Municipal Code Chapter 3.78 ("BMC"), ii enacted a program whereby property owners may qualify for a Final Certificate of Tax Exemption which certifies to the Kitsap County Assessor that the owner is eligible to receive a limited property tax exemption; and WHEREAS the Owner is interested in receiving the multiple family property tax exemption for new/rehabilitated multiple family residential housing units in a residential targeted area; and WHEREAS the Owner has submitted to the City a complete application form for no fewer than ten (10) units of new/rehabilitated multi -family housing within a residential structure or as part of an urban development; and WHEREAS the Owner has submitted to the City preliminary site plans and floor plans for multi -family residential housing to 'be constructed on said property legally described as: RESULTANT SINGLE PARCEL OF DECLARATION OF LOT AGGREGATION RECORDED UNDER AUDITOR'S FILE NO. 201706210145, RECORDS OF KITSAP COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS: LOTS 9 TO 17, INCLUSIVE, BLOCK 6, TOWN OF BREMERTON, ACCORDING TO THE PLAT RECORDED IN VOLUME 2 OF PLATS, PAGE 30, RECORDS OF KITSAP COUNTY, WASHINGTON. Assessor's Parcel Number(s) 3718-006-009-0104, commonly known as Sound West QuincySquare, hereinafter referred to as the "Site;" and MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - WHEREAS the City has determined that the housing units will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exemption. NOW, THEREFORE, the City and the Owner do mutually agree as follows: 1. The City agrees to issue the Owner a Conditional Certificate of Acceptance of Tax Exemption, upon approval of the building permits. 2. The Owner agrees to complete construction of the agreed-upon improvements within three (3) years from the date the City issues the Conditional Certificate of Acceptance of Tax Exemption, or within any extension thereof granted by the City (not to exceed twenty-four (24) months). 3. The project must comply with all applicable zoning requirements, land use requirements, design review requirements and all building, fire, and housing code requirements contained in the Bremerton Municipal Code (herein referred to as the "BMC") at the time a complete application for a building permit is approved. 4. The new multiple -unit housing must provide for a minimum of fifty (50) percent of the space for permanent residential occupancy. The project must include at least ten (10) units of multifamily housing within a residential structure or as part of an urban development. 5. The Owner is requesting an EIGHT (8) year limited property tax exemption. 6. The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary or permanent certificate of occupancy, to file with the City's Department of Community Development the following: (a) A statement of expenditures made with respect to each multi -family housing unit and the total expenditures made with respect to the entire property; (b) A description of the completed work and a statement of qualification for the exemption; (c) A statement that the work was completed within the required three (3) year period or any authorized extension; 7. The City agrees, conditioned on the Owner's successful completion of the improvements in accordance with the terms of this Agreement and on the Owner's filing of the materials described in Paragraph 6 above, to file an EIGHT (8) year Final Certificate of Tax Exemption with the Kitsap County Assessor. 8. The Owner agrees, within thirty (30) days following the first anniversary of the City's filing of the Final Certificate of Tax Exemption and each year thereafter for a period of ii EIGHT (8) years, to file a notarized declaration with the City's Department of Community Development indicating the following: MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 2 (a) A statement of occupancy and vacancy of the multi -family units during the previous twelve (12) months; 11 (b) A certification that the property continues to be in compliance with this Agreement; (c) A description of changes or improvements constructed after issuance of the certificate of tax exemption; and (d) Any information needed by the City to file its annual report pursuant to BMC 3 ,78.110 and any additional information requested by the City in regards to the units receiving a tax exemption. 9. The parties acknowledge that the units are to be used and occupied for multi- family residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multi -family residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 10. If the Owner converts to another use any of the new multi -family residential housing units constructed under this Agreement, the Owner shall notify the Kitsap County Assessor and the City's Department of Community Development within sixty (60) days of such change in use. l 1. The Owner agrees to notify the City promptly of any transfer of Owner's ownership interest in the Site or in the improvements made to the Site under this Agreement. 12. For purposes of this Agreement, "Owner" shall mean the Owners Association of a condominium complex once such association is established which shall be responsible for all reporting requirements required herein on behalf of the owners of individual condominium units. 13. The City reserves the right to cancel the Final Certificate of Tax Exemption should the Owner, its successors or assigns, fail to comply with any of the terms and conditions of this Agreement. 14. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this Agreement. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. 15. Nothing in this Agreement shall permit or be interpreted to permit either party to violate any provision of Chapter 84.14 RCW or Chapter 3.78 BMC. 16. No modifications of this Agreement shall be made unless mutually agreed upon by the parties in writing. MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 3 17. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this Agreement. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the Kitsap County Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by Kitsap County at any time during the exemption period. 18. In the event that any term or clause of this Agreement conflicts with applicable law, such conflict shall not affect other terms of this Agreement which can be given effect without, the conflicting term or clause, and to this end, the terms of this Agreement are declared to be severable. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. CITY OF BREMERTON SOUND ST QUINCY SQUARE LLC By: Patty Le or Its: Dept. r"2 DeWayne Pitts,)5ire Finance Department Development Attest: Shannon Corin, City Clerk Approved as to Form: Roger Lubovic V ty Attorney MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 4 STATE OF WASHINGTON ) ss. County of Kitsap ) On this X day of , 20-1 Tbefore the undersigned, a Notary Public in and for the state of Washington, duly c mmissioned and sworn, personally appeared LO S�— , to me known to be the authorized signor and the person who executed the foregoi � instrument, and acknowledged said instrument to be the free and voluntary act and deed of said person, for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year first above written. ' SHARON ADAMS NOTARY PUBLIC STATE OF WASHINGTON COMMISSION EXPIRES MAY 9, 2021 R:\LEGAL\Contracts\DCD\MFTAgreement.doc 0i� A--- NOTARY PUBLIC ll n r Printed Name: �Nwo^ Residing at Pill w,ertta-- My commission expires og- 6 - 20 i� MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 5 Bremerton City Attorney Contract Review Sheet GENERAL CITY ATTORNEY TRACKING # Date Received: P � .-I Contractor: �(7714- -4- f C `J P CT. PC'�V- "t k C r Purpose: C VA5: k C-1(- 'E._ k V -'y-1 V, 7 Contract Amount: $ 0 rop c .� "'-t \ -- CA K E y C--P'r 1 C Contract Term: P, rat c C` v`1 C...( Originator/Department Contact: 1 ` %'D Ct> Phone: '� DW: > Request Comments By: RISK MANAGER REVIEW ❑ APPROVE ❑ NOT APPROVE Reviewer Initials: Date: Comm`` s: _. CITY ATTORNEY APPROVEGA kb ❑ NOT APPROVE ❑ Needs to go to Council Reviewer Initials: fid Date: 2 � — 17 Comments: 'Dr�` ,f -of- revi&,-) (0 ROUTED' TO C' — 1'—n(71 Ll C_' C -j 10 � t I R:\LEGAL\Contracts\FORMS\Contract Review Request.doc ""Attorney -Client Communication. Not for Dissemination"" Melisa Folmer From: Melisa Folmer Sent: Thursday, May 25, 2017 11:51 AM To: 'Kelli Lambert Subject: RE: REDLINED Narrows View Prope Attachments: Narrows View Properties Multi -Fan Great — attached is the FINAL version for Narrow View Proper From: Kelli Lambert Se6t:�Thursday, May 25, 2017 11:38 AM To: Melisa Folmer <Melisa.Folmer@ci.bremerton.wa.us> Subject: RE: REDLINED Narrows View Properties agreement These changes look good to me. No, Council has not approved these Thanks Melisa From: Melisa Folmer Sent: Thursday, May 25, 2017 11:21 AM To:! Kelli Lambert <Kelli.Lambert@ci.bremerton.wa.us> Subject: REDLINED Narrows View Properties agreement Hi„ Kelli- Attached is the REDLINED version showing what cl Properties agreement. Will you'please review and let me know these normally need Council approval? Thank you. Melisa Vaal Folmer, Legal Assistant Bremerton City Attorney's Office 345 6th Street, Suite 600 Bremerton, WA 98337 (36,0) 473-2345 (360) 473-5161 (fax) melisa.folmer@ci.bremerton.wa.us o ties agreement ily Housing Limited Property Tax Exempt .... doc sign. n the past. ages were made on the Narrows View you are ok with all the changes? Also, do ATTORNEY-CLIENT PRIVILEGED COMMUNICATION This e-mail message and its attachments may cor'tain confidential attorney work product and be subject to the attorney-client communication privilege. It is intended solely for the use of the individual named above. If you are not the intended recipient, or the person responsible to deliver it to the intended recipient, you are hereby, advised that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in eiTor, please immediately notify the sender by reply e-mail anc CITY OF BREMERTON MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT THIS AGREEMENT is entered into this _ day of 2017, by and between Narrows View Properties, LLC (hereinafter referred to as the "Owner"), and the CITY OF BREMERTON, a municipal corporation of the State of Washington (hereinafter referred to as the "City"). WITNESSETH: WHEREAS the City has an interest in stimulating new construction or rehabilitation of multi -family housing in Residential Target Areas in order to reduce development pressure on single-family residential neighborhoods, to increase and improve housing opportunities, and to encourage development densities supportive of transit use; and WHEREAS the City has, pursuant to the authority granted to it by Chapter 84.14 RCW, designated various Residential Target Areas for the provision of a limited property tax exemption for new multi -family residential housing; and WHEREAS the City has, through Chapter 3.78 Bremerton Municipal Code ("BMC"), enacted a program whereby property owners may qualify for a Final Certificate of Tax Exemption which certifies to the Kitsap County Assessor that the owner is eligible to receive a limited property tax exemption; and WHEREAS the Owner is interested in receiving the multiple family property tax exemption for new multiple family residential housing units in a Residential Targeted Area; and WHEREAS the Owner has submitted to the City a complete application form in compliance with Chapter 84.14 RCW and Chapter 3.78 BMC; and WHEREAS the Owner has submitted to the City preliminary site plans and floor plans for multi -family residential housing to be constructed on said property legally described as: 2090 Wheaton Way, in the City of Bremerton, Kitsap County. Assessor's Parcel Number: 3967-001-017-0608 commonly known as The Sage Apartments, hereinafter referred to as the "Site;" and WHEREAS the City has determined that the housing units will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exemption; MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 1 NOW, THEREFORE, the City and the Owner c 1. The City agrees to issue the Owner a Cc Tax Exemption, upon approval of the building permits. i mutually agree as follows: itional Certificate of Acceptance of 2. The Owner agrees to complete construction of the agreed-upon improvements within three (3) years fi-orn the date the City issues the Conditional Certificate of Acceptance of Tax Exemption, or within any extension thereof granted by the City (not to exceed 24 months). 3. The project must comply with all applicable zoning requirements, land use requirements, design review requirements, and all building, fire, and housing code requirements contained in the Bremerton Municipal Code (herein referred to as the "BMC") at the time a complete application fora building permit is approved. 4. The new, multiple -unit housing must provide for a minimum of fifty percent (50%) of the space for permanent residential occupancy. The project must include at least ten (10) units of multi -family housing within a residential structure or as part of an urban development. 5. The Owner is requesting a TWELVE (12) year limited property tax exemption. The Owner commits to renting or selling at least twenty percent (20%) of the multifamily housing units constructed on the site as housing units affordable for low or moderate -income households as defined by BMC 3.78.040. 6. The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary or permanent certificate of occupancy, to file with the City's Department of Community Development the following: (a) A 'statement of expenditures made housing unit and the total expenditures made with respec (b) A (,description of the completed we the exemption; and (c) A statement that the work was year period or any authorized extension. (d) If applicable, that the project described in RCW 84.14:020. MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 2 vith respect to each multi -family to the entire property; and a statement of qualification for within the required three (3) the affordable housing requirements as 7. The City agrees, conditioned on the Owner's successful completion of the improvements in accordance with the terms of this Agreement and on the Owner's filing of the materials described in Paragraph 6 above, to file a twelve (12) year Final Certificate of Tax Exemption with the Kitsap County Assessor. 8. The Owner agrees, within 30 days following the first anniversary of the City's filing of the Final Certificate of Tax Exemption and each year thereafter for a period of twelve (12) years, to file a notarized declaration with the City's Department of Community Development indicating the following: (a) A statement of occupancy and vacancy of the multi -family units during the previous twelve (12) months; (b) A certification that the property continues to be in compliance with this Agreement; (c) A description of changes or improvements constructed after issuance of the Certificate of Tax Exemption; and (d) Any information needed by the City to file its annual report pursuant to BMC 3.78, 110 and any additional information requested by the City in regards to the units receiving a tax exemption. 9. The parties acknowledge that the units are to be used and occupied for multi- family residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multi -family residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 10. If the Owner converts to another use any of the new multi -family residential housing units constructed under this Agreement, the Owner shall notify the Kitsap County Assessor and the City's Department of Community Development within 60 days of such change in use. 11. The Owner agrees to notify the City promptly of any transfer of Owner's ownership interest in the Site or in the improvements made to the Site under this Agreement. 12. For purposes of this Agreement, "Owner" shall mean the Owners Association of a condominium complex once such association is established which shall be responsible for all reporting requirements required herein on behalf of the owners of individual condominium units. 13. The City reserves the right to cancel the Final Certificate of Tax Exemption should the Owner, its successors or assigns, fail to comply with any of the terms or conditions of this Agreement. MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 3 14. Nothing in this Agreement shall permit or, be interpreted to permit either party to violate any provision of Chapter 84.14 RCW or Chapter 3.78 BMC. i 15. No modifications of this Agreement shall ibe made unless mutually agreed upon by the parties in writing. 16. The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant to this Agreement. Such liability may include additional real pri petty tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the Kitsap iCounty Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by Kitsap County, at any time during the exemption period. I 17. In the event that any term or clause of this, Agreement conflicts with applicable law, such conflict shall not affect other terms of this Agreement which can be given effect without the conflicting term or clause, and to this end, the terms of this Agreement are declared to be severable. i IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written. CITY OF BREMERTON NARROWS VIEW PROPERTIES, LLC By: Patty Lent, Mayor Its: Andrea L. Spencer, Director Dept. of Community Development DeWayne Pitts, Director Finance Department MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 4 Attest: Shannon Corin, City Cleric Approved as to Form: Roger Lubovich, City Attorney STATIC OF WASHINGTON) ) ss. County of Kitsap ) On this day of , 2017, before the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared , to me known to be the authorized signor and the person who executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said person, for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year first above written. NOTARY PUBLIC Printed Name: Residing at My commission expires n R:\Lega]\Legal\Contracts\DCD\Narrows View Properties Multi -Family Housing Limited Property Tax Exemption Agreement - FINAL 05.25.2017.doc MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 5 i i Melisa Folmer Fr6m: Amanda Harvey Se t: Thursday, May 25, 2017 11:15 AM To: Melisa Folmer Subject: RE: Narrows View Properties agreement i I Okay to send to Kelli to review! j From: Melisa Folmer Sent: Wednesday, May 24, 2017 11:31 AM To Amanda Harvey Subject: Narrows View Properties agreement j Hi, Amanda- I redlined the agreement. Do you want me to send a copy of the redlined to Kelli to review? Or just accept all changes so you can sign? Let me know. attached redlined version. Melisa Vaal Folmer, Legal Assistant Bremerton City Attorney's Office 345 6th Street, Suite 600 Bremerton, WA 98337 (360) 473-2345 (36;0) 473-5161 (fax) ATTORNEY-CLIENT PRIVILEGED COMMUNICATION This e-mail message and its attachments may contain confidential attorney work product and be subject to the ;attorney-client communication privilege. It is intended solely for the use of the individual named above. If you are not the intended recipient, or the person responsible to deliver it to the intended recipient, you are hereby advised that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please immediately not the sender by reply e-mail and delete and/or destroy the original and all copies of the e-mail message. I CITY OF BRE MERTON MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXE A PTION AGREEMENT THIS AGREEMENT is entered into this_ day of 2017, by and between Narrows View Properties, LLC (hereinafter referred to as the "Owner"), and the CITY OF B:REMERTON, a municipal corporation of the State of Washington (hereinafter referred to as the "City"). WITNESSETH: ------- Formatted: Centered WHEREAS the City has an interest in stimulating new construction or rehabilitation of multi -family housing in Residential Target Areas in order to reduce development pressure on single-family residential neighborhoods, to increase and improve housing opportunities, and to encourage development densities supportive of transit use,—=and WHEREAS the City has, pursuant to the authority granted to it by Chapter 84.14 RCW, designated various Residential Target Areas for the provision of a limited property tax exemption for new multi -family residential housing,—. and WHEREAS the City has, through Chapter 3.78 Bremerton Municipal Fede -Code LBMC_), enacted a program whereby property owners may qualify for a Final Certificate of Tax Exemption which certifies to the Kitsap County Assessor that the owner is eligible to receive a limited property tax exemption,—.and WHEREAS; 441the Owner is interested in receiving the multiple family property tax exemption for new/reheb"ted multiple family residential housing units in a residential Residential tzxgeted-Targeted areaArea; and WHEREAS; Th, -the Owner has submitted to the City a complete application form in compliance with Chapter 84.14 RCW and Chapter 3.78 BMC.: and MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 1 i i WHEREAS the Owner has submitted to the City preliminary sitelplans and floor plans for multi -family residential housing to be constructed on said property legally described as: 2090 Wheaton Way, in the City of Bremerton, Kitsap County. Assessor's Parcel Number: 3967-001-017-0608 -commonly known as The Sage Apartments, hereinafter referred to as the "Site-,:" and i WHEREAS the City has determined that the housing units will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exei mption; NOW, THEREFORE, the City and the Owner do mutually agree as follows: 1—. The City agrees to issue the Owner a Conditional Certificate of Acceptance of Tax Exemption, upon approval of theibuilding permits. 2—.. The Owner agrees to complete construction of the ragreed-agreed-upon improvements within three wears from the date the City issues the Conditional! Certificate of Acceptance of Tax Exemption, or within any extension thereof granted by the City (not to exceed 24 months). i 3—. The project must comply with all applicable zoning requirements, land use requirements, design review requirements, and all building, fire, and housing code requirements contained in the Bremerton Municipal Code (herein referred to as the "BMC") at the time a complete application for a building permit is approved. i 4— The new, multiple -unit housing must provide for a minimum of fifty (3d) percent (50%) of the space for permanent residential occupancy. The project must include at least ten (10) units of multifamily housing within a residential structure or as part of an urban development. 1 i 5— The Owner is requesting a TWELVE (12) year limited property tax exemption. 4a twelve year mpiiaa,,4he-The Owner commits to renting or selling at least 6erity percent (20%) of the multifamily housing units constructed on the site as housing units affordable for low or moderate -income households as defined by Seetieft BMC 3.78.04013MC-) I 6.- The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary or permanent certificate of occupancy, to file with the City's Department of Community Development the following: (a}- A statement of; expenditures made with respect to each multi -family housing unit and the total expenditures made with respect to the entire property; MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT 2 (b) -LA description of the completed work and a statement of qualification for the exemption; and; 1! (c) -LA statement that the work was completed within the required three (3) year period or any authorized extension. (d)) If applicable, that the project meets the affordable housing requirements as described in RCW 84.14.020. 7—__The City agrees, conditioned on the Owner's successful completion of the improvements in accordance with the terms of this Agreement and on the Owner's filing of the materials described �in Paragraph 8-6 above, to file a twelve year Final Certificate of Tax Exemption with the Kitsap County Assessor. 8—. The Owner agrees, within 30 days following the first anniversary of the City's filing of the Final Certificate of Tax Exemption and each year thereafter for a period of twelve (12) years, to file a notarized declaration with the City's Department of Community Development indicating the following: (a) -LA statement of occupancy and vacancy of the multi -family units during the previous twelve l'(12) months; certification that the property continues to be in compliance with this Agreement; (e)—)_A description of changes or improvements constructed after issuance of the cef4i cat Certificate oftay-Tax a tpt+arrExemption:; and (d)-- l Any information needed by the City to file its annual report pursuant to Bree rluflie-ipa ^' f Cede (BMC} 3.78.110 and any additional information requested by the City in regards to the units receiving a tax exemption. 9—. _The parties acknowledge that the units are to be used and occupied for multi- family residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multi -family residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 10—. _If the Owner converts to another use any of the new multi -family residential housing units constructed under this Agreement, the Owner shall notify the Kitsap County Assessor and the City's Department of Community Development within 60 days of such change in use. MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION IXGREEMENT - 3 11=. The Owner agrees to notify the City promptly of any transfer of C ownership interest in the Site or in the improvements made to the Site under this 12—. For purposes of this agreementAgreement, "Owner" shall mean the Owners Association of a condominium complex once such association is established which shall be responsible for all reporting requirements required herein on behalf of the owners of individual condominium units. 13—. The City reserves the right to cancel the Final Certificate of Tax l should the Owner, its successors or assigns, fail to comply with any of the terms conditions of this Agreement. puFsuant 14.110. 15.14.— Nothing in this Agreement shall permit or be interpreted to permit either party to violate any provision of Chapter 84.14 RCW or BN4G Chapter 3.78 BMC. 16.15.— No modifications of this Agreement shall be made unless mutually agreed upon by the parties in writing. 4-716.— The Owner acknowledges its awareness of the potential tax liability involved if and when the property ceases to be eligible for the incentive provided pursuant tolthis ab eementAgreement. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the Kitsap County Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by -The County at any time during the exemption period. i I In the event that any term or clause of this Agreement conflicts with applicable law, such conflict shall not affect other terms of this Agreement which can be given effect without the conflicting term or clause, and to this end, the terms of this Agreement are declared to be severable. IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written. CI"TY OF BREMERTON MULTI -FAMILY HOUSING LIMITED PROPERTY' TAX EXEMPTION AGREEMENT - 4 By: Patty Lent, Mayor I! Its: Andrea L. Spencer,Director Dept. of Community Development 1 DeWa, ne Pitts, D Finance Denartme MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 5 Attest: Shannon Corin, City Clerk Approved as to Form: Roger Lubovich, City Attorney MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 6 r. 1i STATE OF WASHINGTON) ss. County of Kitsap �' ) On this day of 20=, 17 before the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared to me known to be the authorized signor and the person who executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said person, for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year first above written. MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION„AGREEMENT - 7 I' CITY OF BREMERTON MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT THIS AGREEMENT is entered into this _ day of 2017, by and between Narrows View Properties, LLC (hereinafter referred to as the "Owner"), and the CITY OF BREMERTON, a municipal corporation of the State of Washington (hereinafter referred to as the "City"). WITNESSETH: WHEREAS the City has an interest in stimulal multi -family housing in Residential Target Areas in of single-family residential neighborhoods, to increase ai encourage development densities supportive of transit WHEREAS the City has, pursuant to the authori designated various Residential Target Areas for the pro) exemption for new multi -family residential housing' an( WHEREAS the City has, through Chapter 3.781 enacted a program whereby property owners may qualif Exemption which certifies to the Kitsap County Assess( limited property tax exemption" and WHEREAS, The Owner is interested in receivin exemption for ne ultiple family residers area; and WHEREAS, The Owner has submitted to t compliance with Chapter 84.14 RCW and Chapter 3.78 MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 1 new construction or rehabilitation of r to reduce development pressure on improve housing opportunities, and to e, and y granted to it by Chapter 84.14 RCW, ision of a limited property tax 01 emerton Municipal code (BMC), for a Final Certificate of Tax that the'owner is eligible to receive a the multiple family property tax a1 housing units in a residential targeted K T he City a coi Tete application form in iBMC. Cop j""WHEREAS the Owner has submitted to the City preliminary site plans and floor plans for multi -family residential housing to be constructed on said property legally described as: 209.0 Wheaton Way, in the City of Bremerton, Kitsap County. Ass��'essor's Parcel Number: ) 3967-001-017-0608 i� commonly known as The Sage Apartments, hereinafter referred to as the "Site,' and WHEREAS the City has determined that the housing units will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exemption, NOW, THEREFORE, the City and the.Owner do mutually agree as follows: 1. The City agrees to issue the Owner a Conditional Certificate of Acceptance of Tax Exemption; upon approval of the building permits. 2. The Owner agrees to complete construction of the agreed upon improvements within three years' from the date the City issues the Conditional Certificate of Acceptance of Tax Exemption; or within any extension thereof granted by the City (not to exceed 24 months). 3. The project must comply with all applicable zoning requirements, land use r. requirements, design review requirements and all building, fire, and housing code requirements contained in the Bremerton Municipal Code (herein referred to as the "BMC") at the time a complete application for a building permit is approved. 4. The new, multiple -unit housing must provide for a minimum of fifty (50) percent of the space for permanent residential occupancy. The project must include at least ten (10) units of multifamily housing within a residential structure or as part of an urban development. k Il 5. The Owner is requesting a TWELVE (12) year limited property tax exemption.-(Ifa-°- The Owner commits to renting or selling at least twenty percent (20%) of the multifamily housing units constructed on the site as housing units affordable for low or moderate -income households as defined by_S=tian 3.78.0401 6. The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary or pennanent certificate of occupancy, to file with the City's Department of Community Development the following: a. l (a) A statement of expenditures made with respect to each multi -family housing unit and the total expenditures made with respect to the entire property; MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 2 i! (b) A description of the completed work exemption; and (c) A statement that the work was period or any authorized extension. (d) If applicable, that the project meets described in RCW 84.14.020. 7. The City agrees, conditioned on the Owner's improvements in accordance with the terms of this Agri materials described in Paragraph 8 above, to file a twel, Exemption with the Kitsap County Assessor. a statement of qualification for the within the required three (3) year affordable housing requirements as iccessful completion of the nent and on the Owner's filing of the year Final Certificate of Tax 8. The Owner agrees, within 30 days following the first anniversary of the City's filing of the Final Certificate of Tax Exemption and each year thereafter for a period of twelve years, to file a notarized declaration with the City's Department of Community Development indicating the following: (a) A statement of occupancy and vacancy of the multi -family units during the previous twelve (12) months; (b) A certification that the property continues to be in compliance with this Agreement; and, (c) A description of changes or improvements constructed after issuance of the certificate of tax exemption. (d) Any information needed by the City to file its annual report pursuant to .—.$feitterhon-M.G�BMC-)-3.78.110 and any additional information requested by the City in regards to the units receiving a tax exemption. 9. The parties acknowledge that the units are to be used and occupied for multifamily residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multifamily residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 10. If the Owner converts to another use any of the new multi -family residential housing units constructed under this Agreement, the Owner shall notify the Kitsap County Assessor and the City's Department of Community Development within 60 days of such change in use. 11. The Owner agrees to notify the City promptly of any transfer of Owner's ownership interest in the Site or in the improvements made to the Site under this Agreement. MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 3 L� j-- w;ti 12. F6r purposes of this agreement, "Owner" shall mean the Owners Association of a condomin' in complex once such association is established which shall be responsible for all reporting requirements required herein on behalf of the owners of individual condominium units. 13. The City reserves the right to cancel the Final Certificate of Tax Exemption should the Owner, its successors or assigns, fail to comply with any of the teiinsconditions of this Agreement. f 4. T e Owner acknowledges i areness of the potential tax liability involved if and when the perty ceases to be eligible the incentive provided pursuant to this greement. Such liabi may include additional real property tax, penalties and interest iinpo ed pursuant to RCW 84. 4. 0. " , ),T." Nothing in this Agreement shall permit or be interpreted to pen -nit either party to violate any provision of Chapter 84.14 RCW or BMC Chapter 3.78. 15 ),K"'No modifications of this Agreement shall be made unless mutually agreed upon by the parties in writing. XThe Owner acknowledges its awareness of the potential tax liability in/gareement. ed if and when the property ceases to be eligible for the incentive provided pursuant to this Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the Kitsap County Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by Kitsap County at any time during the exemption period. "�., )/In the event that any term or clause of this Agreement conflicts with applicable law, such conflict shall not affect other terms of this Agreement which can be given effect without the conflicting' term or clause, and to this end, the terms of this Agreement are declared to be severable. IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written. CITY OF BREMERTON Property Owners: By: Patty Lent, Mayor Its: MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 4 Andrea L. Spencer, Director Dept. of Community Development Cxeln, Director Finance Department i Attest: i Shannon Corin, City Clerk Approved as to Form: Roger Lubovich, City Attorney i MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 5 STATE OF WASHINGTON) ss. County of Kitsap ) On this day of , 20_, before the undersigned, a Notary Public in and for the state of Washington, duly commissioned and sworn, personally appeared , to me known to be the authorized signor and the person who executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said person, for the uses and purposes therein mentioned. WITNESS my hand and official seal hereto affixed the day and year first above written. NOTARY PUBLIC Printed Name: Residing at My commission expires se R:\LEGAL\Contracts\DCD\M FTAgreement.doc MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 6 CITY OF BREMERTON MULTI -FAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT THIS AGREEMENT is entered into this _ dayi of 2017, by and between Narrows View Properties, LLC (hereinafter referred to as the "Owner"), and the CITY OF BREMERTON, a municipal corporation of the State of Washington (hereinafter referred to as the "City"). WITNESSETH: WHEREAS the City has an interest in stimulating new construction or rehabilitation of multi -family housing in Residential Target Areas in ordez to reduce development pressure on single-family residential neighborhoods, to increase and improve housing opportunities, and to encourage development densities supportive of transit use, and WHEREAS the City has, pursuant to the authority granted to it by Chapter 84.14 RCW, designated various Residential Target Areas for the provision of a limited property tax exemption for new multi -family residential housing, and; WHEREAS the City has, through Chapter 3.78 Bremerton Municipal ade'(BMC), enacted a program whereby property owners may qualify for a Final Certificate of Tax Exemption which certifies to the Kitsap County Assessor that the owner is eligible to receive a limited property tax exemption, and i WHEREAS,VAe Owner is interested in receiving the multiple family property tax exemption for new/rehabilitated multiple family residential housing units, in a residential targeted area; and WHEREAS,E/Yhe Owner has submitted to the City a complete application form in compliance with Chapter 84.14 RCW and Chapter 3.78 BMC. MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 1 <,----WHEREAS the Owner has submitted to the City preliminary site plans and floor plans for multi -family residential housing to be constructed on said property legally described as: 2090 Wheaton Way, in the City of Bremerton, Kitsap County. Assessor's Parcel Number: 3967-001-017-0608 commonly known as The Sage Apartments, hereinafter referred to as the "Site," and WHEREAS the City has determined that the housing units will, if completed as proposed, satisfy the requirements for a Final Certificate of Tax Exemption; NOW, THEREFORE, the City and the Owner do mutually agree as follows: 1. The City agrees to issue the Owner a Conditional Certificate of Acceptance of Tax Exemption, upon approval of the building permits. - 2. The Owner agrees to complete construction of the agreed upon improvements within three years from the date the City issues the Conditional Certificate of Acceptance of Tax Exemption; or within any extension thereof granted by the City (not to exceed 24 months). 3. The project must comply with all applicable zoning requirements, land use requirements, design review requirements and all building, fire, and housing code requirements contained in the Bremerton Municipal Code (herein referred to as the "BMC") at the time a complete application for a building permit is approved. 4. The new, multiple -unit housing must provide for a minimum of fi�fyercent of the space for permanent residential occupancy. The -project must include at least ten (10) units of multifamily housing within a residential structure or as part of an urban development. The Owner is requesting a TWELVE (12) year limited property tax exemption. (fir Owner commits to renting or selling at least twenty percent (20%) of the multifamily housing units constructed on the site as housing units affordable for'Iow or moderate -income households as defined by Section 3.78.040 BM('.) 6. The Owner agrees, upon completion of the improvements and upon issuance by the City of a temporary or permanent certificate of occupancy, to file with the City's Department of Community Development the following: 7 F\G (a) Astatement of expenditures made with respect to each multi -family housing unit and the total expenditures made with respect to the entire property; MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 2 I (b) A description of the completed work and a statement of qualification for the exemption; and (c) A statement that the work was completed within the required three (3) year period or any authorized extension. (d) If applicable, that the project meets the affordable housing requirements as described in RCW 84.14.020. 7. The City agrees, conditioned on the Owner's successful completion of the improvements in accordance wit4 the terns of this Agre nen and on the Owner's filing of the materials described in Paragraphabove, to file a twely yea Final Certificate of Tax Exemption with the Kitsap County Assessor. i 8. The Owner agrees; within 30 days following the first anniversary of the City' fill �g of the Final Certificate of Tax Exemption and each year thereafter for a period of twel�e�yey°rs, to file a notarized declaration with the City's Department of Community Development indicating the following: i (a) A statement of occupancy and vacancy of the multi -family units during the previous twelve (12) months; (b) A certification that the property continues to be in compliance with this Agreement; a*4 (c) A description of changes or improvements constructed after issuance of the certificate of tax exemptions C7,4 -"i (d) Any information needed by the City to file its annual report pursuant to g�nartn7],,;;tlUQi-",,;��(gMG 3.78.110 and any additional information requested by the City in regards to the units receiving a tax exemption. i 9. The parties acknowledge that the units are to lie used and occupied for multifamily residential use. The parties further acknowledge that the certificate of occupancy issued by the City is for multifamily residential units. The Owner acknowledges and agrees that the units shall be used primarily for residential occupancy and any business activities shall only be incidental and ancillary to the residential occupancy. 10. If the Owner converts to another use any of the new multi -family residential housing units constructed under this Agreement, the Owner shall notify the Kitsap County Assessor and the City's Department of Community Development within 60 days of such change in use. i 11. The Owner agrees to notify the City promptly of any transfer of Owner's ownership interest in the Site or in the improvements made to the Site under this Agreement. MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 3 X CA a 12. For purposes of this�agreeme , "Owner" all mean the Owners Association of a condominium complex once such association is es ed which shall be responsible for all p reporting requirements required herein on behalf of the owners of individual condominium units. 13. The City reserves the right to cancel the Final Certificate of Tax Exemption should the Owner, its successors or assigns, fail to comply with any of the terms and conditions of this Agreement. 14. The Owner acknowledges its a, when the property ceases to be eligible for Such liability may include additional real I RCW 84.14.110. �he potential tax liability involved if and ntive provided pursuant to thisgreement. tax, penalties and interest imposed pursuant to 15. Nothing in this Agreement shall permit or be interpreted to pen -nit either party to violate any provision of Chapter 84.14 RCW or B Chapter 16. No modifications of this Agreement shall be made unless mutually agreed upon by the parties in writing. 17. The Owner acknowledges its awareness of the potential tax liability in olved if and when the property ceases to be eligible for the incentive provided pursuant to this)Rgreement. Such liability may include additional real property tax, penalties and interest imposed pursuant to RCW 84.14.110. The Owner further acknowledges its awareness and understanding of the process implemented by the Kitsap County Assessor's Office for the appraisal and assessment of property taxes. The Owner agrees that the City is not responsible for the property value assessment imposed by Kitsap County at any time during the exemption period. 18. In the event that any term or clause of this Agreement conflicts with applicable law, such conflict shall not affect other terms of this Agreement which can be given effect without the conflicting term or clause, and to this end, the terms of this Agreement are declared to be severable. `�. IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written. CITY OF BREMERTON Patty Lent, Mayor By: Its: MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 4 I I Andrea L. Spencer, Director Dept. of Community Development -�GaL.y�o , Director Finance Department Attest: Shannon Corin, City Cleric Approved as to Form: Roger Lubovich, City Attorney MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 5 STATE OFIWASHINGTON ) ss. County of Kitsap ) On this day of , 20_, before the undersigned, a Notary Public in and for the state 4 of Washington, duly commissioned and sworn, personally appeared to me known to be the authorized signor and the person who executed the foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said, person, for the uses and purposes therein mentioned. NESS my hand and official seal hereto affixed the day and year first above written. NOTARY PUBLIC Printed Name: Residing at My commission expires R:\LEGAL\Contracts\DCD\MFTAgreem ent.doc MULTIFAMILY HOUSING LIMITED PROPERTY TAX EXEMPTION AGREEMENT - 6 Melisa Folmer From: Kylie Purves Sent: Monday, May 22, 2017 9:42 AM To Kelli Lambert Cc: Melisa Folmer Subject: RE: Multifamily Tax Exemption Hi Kellie, Can you bring a hard copy down to Melisa? She will route it to one of us. Kylie J. Purves Assistant City Attorney City of Bremerton 345 6th Street, Suite 600 Bremerton, Washington 98337 (360) 473-2336 I<yli'e.purves@ci.bremerton.wa.us c_c:'A C'o k c "-) C1 s`~ 1 i 'T 0 00-yy__'u"-)C7b C,_ 1 �4�41 ATTORNEY-CLIENT PRIVILEGED COMMUNICATION This e-mail message and its attachments may contain confidential attorney work product and be subject to the attorney- client communication privilege. It is intended solely for the use of the individual named above. If you are not the intended recipient, or the person responsible to deliver it to the intended recipient, you are hereby advised that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please immediately notify the sender by reply e-mail and delete and/or destroy the original nnri all nnnioc of tho P -mail mPCGanP From: Kelli Lambert Sent: Monday, May 22, 2017 9:34 AM To: Kylie Purves <Kylie.Purves@ci.bremerton.wa.us> Subject: Multifamily Tax Exemption Ky I ie, Welhave received an application for a 12 year MFTE. There is a contract on the MFTE page on the City website; however, the,contract template contains language for both options the 8 year and the 12 year). Roger wanted us to tailor the contract to the type of MFTE being requested. I used the draft contract language from the last application (in early 2016). Would you like to review it before it goes to the applicant for signature? Let me know if this question should go to someone else, or if you want a hard copy. I Thanks, Kms% La-vwbef-t- Planner Phone: 360.473.5245 2( Kelli.Lambert 6.bremerton.wa.us ' 1 City of Bremerton :Department of Community Development 345 6th Street, Suite 600 Bremerton, WA 98337 2