Title
Approval of a Resolution Authorizing a Partial Impact Fee Exemption Agreement with FSCSS West Olympia LLLP for 3524 7th Avenue SW
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve a Resolution Authorizing a Partial Impact Fee Exemption Agreement between the City of Olympia and FSCSS West Olympia LLLP for 3524 7th Avenue SW
Report Issue:
Whether to approve a Resolution Authorizing a Partial Impact Fee Exemption Agreement between the City of Olympia and FSCSS West Olympia LLLP for 3524 7th Avenue SW.
Staff Contact:
Jacinda Steltjes, Affordable Housing Program Manager, 360.753.8482
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
The current Olympia Municipal Code (OMC) 15.04.060 allows for certain exemptions for payment of impact fees. The code permits exemption of 80% of school, park, and transportation impact fees for any form of low-income housing occupied by households whose income at initial occupancy, when adjusted for household size, is at or below eighty percent (80%) of the area median income, by household size, as annually adjusted by the U.S. Department of Housing and Urban Development.
At the time the applicant project submitted its building permit application a previous version of the code allowed for up to 100% of school impact fees to be exempted. As such, a 100% exemption of this impact fee is presented.
The code requires the property owner seeking reduced impact fees to execute a partial impact fee exemption agreement and record a restrictive covenant that prohibits using the property for any purpose other than for low-income housing as described in OMC Subsection 15.04.060.C.2., which, at a minimum, must address price restrictions and household income limits for the low-income housing, and require that, if the property is converted to a use other than for low-income housing as defined in the agreement and the covenant, the property owner ...
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