Ordinance 2366 designates the Pilchuck District as a residential target area and establishes a deferral from Real Property Tax for the development and redevelopment of multi-family housing within this designated target area.
Two types of deferrals are offered:
An 8-year deferral for any multi-family project that qualifies; and
A 12-year deferral for any multi-family project that qualifies and that makes at least 20% of its units affordable to moderate- and low-income households.
For more information on how to apply for this incentive, contact Glen Pickus, Planning Director.