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HomeMy WebLinkAbout10/03/2018 8B AGENDA BILL CITY OF BREMERTON CITY COUNCIL 8B SUBJECT: Ordinance No. 5353 amending Study Session Date: September 26, 2018 Chapter 3.78 of the Bremerton Municipal COUNCIL MEETING Date: October 3, 2018 Code entitled "Multifamily Tax Exemption"; Department: City Council and establishing the Affordable Housing Presenter: Eric Younger Capital Fund Phone: (360) 473-5280 SUMMARY: This proposed ordinance includes revisions to Chapter 3.78 of the Bremerton Municipal Code entitled "Multifamily Property Tax Exemption" which authorizes the transfer of revenues received in sales tax for the construction of the projects utilizing the multifamily tax exemption to the Affordable Housing Capital Fund. ATTACHMENTS: Ordinance No. 5353 FISCAL IMPACTS (Include Budgeted Amount): STUDY SESSION AGENDA: LI Limited Presentation © Full Presentation STUDY SESSION ACTION: Cl Consent Agenda ❑x General Business ❑ Public Hearing RECOMMENDED MOTION: Move to approve Ordinance No. 5353 amending Chapter 3.78 of the Bremerton Municipal Code entitled "Multifamily Property Tax Exemption"; and establishing the Affordable Housing Capital Fund COUNCIL ACTION: '4'Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action Form Updated 01/02/2018