HomeMy WebLinkAbout1 - Original Submission_ MFTE Tower 1 Revision 20220126 MWRev. 10/11
City of Bremerton
Department of Community Development
345 -6th Street, Suite 600
Bremerton, WA 98337-1873
Phone: (360) 473-5275
Fax: (360) 473-5278
Multi-Family Property Tax Exemption Application
Bremerton Municipal Code Chapter 3.78
File # Fee: $1,500.00
***Please provide preliminary floor plan, site plan, and legal description of property***
PROGRAM REQUIREMENTS
1. The project must be located within a residential target area designed for the tax incentive program by the
City. (See Figures 3.78(a) and 3.78(b) for maps of the target areas)
2. The project must relocate any displaced residential tenants of the property proposed for development to
comparable units
3. At least 50% of the proposed space must be developed for permanent residential occupation.
4. The project must provide at least 10 dwelling units. In the case of existing multifamily housing that is
occupied or which has not been vacant for 12 months or more, the multifamily housing project must also
provide for a minimum of 4 additional dwelling units for a total of 14 dwelling units.
5. The project must be completed within 3 years from the date of approval of the application.
6. The project must be designed to comply with all building codes, zoning codes, and other applicable
regulations.
7. On an annual basis, the property owner must file a notarized declaration with the Director indicating
compliance with the program requirements.
For specific language regarding project eligibility, refer to BMC 3.78.050
CONTACT INFORMATION
Project Name
Applicant (grantor):
Address:
Phone Number:
Contact Person (if different than applicant):
Address:
Phone Number:
Marina Square Tower 1 (North Tower)
Sound West Oz Fund I Multifamily, LLC
423 Pacific Ave, Suite 402 3608507242
423 Pacific Ave, Suite 402
Marianne Weber
423 Pacific Ave, Suite 402 3608507242
Bremerton, WA 98337
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Multi-Family Property Tax Exemption Application
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Title Holder (if different than applicant):
Address: Phone Number:
Project Representative:
Address: Phone Number:
PROJECT INFORMATION
Property Address: _______________________________________________________________________
1.Tax Assessor’s Parcel Number(s):____________________________________________________
2.Zoning Designation: _______________________________________________________________
3.Comprehensive Plan Designation: ____________________________________________________
4.Sewage Disposal Method: __________________________________________________________
5.Water Source: ____________________________________________________________________
6.Is the project located within the residential targeted area as defined in BMC 3.78.020 and as set forth
in Figure 3.78? (See pages 5 and 6)
YES NO
7.Is the project site currently vacant? YES NO
8.Which level of exemption is being requested? 8 year 12 year
Please complete the following table(s) as applicable:
Unit Mix # of
Units
# of
Units
for
Rental
# of Units
for
Ownership
Avg.
Size of
Unit
(sq. ft.)
Total
Square
Footage
Total Dev.
Cost
Cost Per
Unit
Avg.
Rent
Avg.
Sales
Price
# of Units
Vacant
for 12
months
or more*
# of Units
that are
Currently
Occupied*
Studio
1-
Bedroom
2-
Bedroom
≥3-
Bedroom
Totals
*= Only complete if you are proposing to rehabilitate existing units
Under Construction
Plus 117 Parking Stalls on Level 3 of Parking Garage
423 Pacific Ave, Suite 402 3608507242
Bremerton, WA 98337
Marianne Weber
423 Pacific Ave, Suite 402 3608507242
Bremerton, WA 98337
280 Washington Ave, Bremerton, WA 98337
8222-000-001-0004
Downtown Subarea
PUD
PUD
59 59 0 565 33345 3945060 66865 1962 NA NA NA
56 56 0 761 42634 5044046 90072 2148 NA NA NA
10 10 0 1030 10300 1218597 212860 2901 NA NA NA
0 0 0 0 0 0 0 0 NA NA NA
125 125 0 690 86279 2120 NA NA NA
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Multi-Family Property Tax Exemption Application
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Information on affordable housing units (complete only if applying for 12-year property tax
exemption):
Unit Mix Total # of Units
to be Affordable
# of Units
Affordable to
Households at
or below 80%
AMI (Low-
Income)
Avg.
Rent/Sales
Price for
Low-Income
Units
# of Units
Affordable to
Households
above 80% and
below 115%
AMI (Moderate-
Income)
Avg.
Rent/Sales
Price for
Moderate-
Income
Units
Studio
1-Bedroom
2-Bedroom
≥3-Bedroom
Totals
Complete the following two questions only if you are proposing to rehabilitate existing residential units:
1.If the existing units are vacant, when was the latest date of occupancy?_________________________
If the property is not currently vacant please provide a detailed explanation as to how the tenants
will be relocated. You must include information regarding how the applicant will provide each
tenant housing that is comparable in size, quality, and price, in the opportunity to relocate.
NOTE: A project involving rehabilitation to existing multifamily units that are currently occupied or
which have not been vacant for 12 months or more must also provide for a minimum of 4 additional
multifamily units to the required 10 units to meet project eligibility.
2.Please provide a report prepared by a registered architect identifying how the structure is not
compliant with the building codes. The report must identify specific code violations, supporting date,
a narrative, and graphic materials to identifying specific non-compliances with the building code.
Does this application include a report meeting these requirements?
YES NO
GENERAL MFTE PROJECT INFORMATION
1.Does the project provide at least fifty percent (50%) of the space of the building for residential
occupancy?
YES NO
2.Source of total development cost estimate:______________________________________________
3.Expected start date of project: _______________________________________________________
4.Expected completion date: __________________________________________________________
5.Preliminary plans are required with the submittal of this application. Which of the following are
attached?
Site Plan Floor Plans Legal Description
15000000 pro rata share of total development
N/A
April 2019
November 2022
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Multi-Family Property Tax Exemption Application
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6. Please provide any other applicable information that will assist in the review of your request and will
help show that your project meets the criteria in the Bremerton Municipal Code 3.78.050. You may
include additional pages as necessary.
CONDITIONAL CERTIFICATE
The City may issue a Conditional Certificate of Acceptance of Tax Exemption, based on the information
provided by the applicant. The Conditional Certificate will be effective for not more than three (3) years, but
may be extended for an additional 24 months under certain circumstances. The City will issue a Final
Certificate of Tax Exemption upon completion of the project, satisfactory fulfillment of all contract terms, a
final inspection, and issuance of a Certificate of Occupancy.
EFFECT OF CANCELLATION
If a tax exemption is canceled due to a change in use or other noncompliance, the following taxes and
penalties will apply:
a. Additional real property tax, plus interest, shall be imposed based upon the value of the non-
qualifying improvements. This additional tax is calculated based upon the difference between the
property tax paid and the property tax that would have been paid if it had included the value of the
non-qualifying improvements dated back to the date that the improvements were converted to a non-
qualifying use.
b. A penalty shall be imposed amounting to twenty (20) percent of the value of the additional property
tax plus interest.
c. The interest is calculated at the same statutory rate charged on delinquent property taxes from the
dates on which the additional property tax could have been paid without penalty if the improvements
had been assessed at full value without regard to this tax exemption program.
d. The additional taxes, interest, and penalties will become a lien on the land and attach at the time the
property or portion of the property is removed from multi-family use or the amenities no longer meet
applicable requirements. The lien has priority over and must be fully paid and satisfied before a
recognizance, mortgage, judgment, debt, obligation, or responsibility to or with which the land may
become charged or liable.
DocuSign Envelope ID: C6272810-33E1-4253-824A-DF796C31967A