Skip to main content
Loading…
This section is included in your selections.

A. If a corporation requires additional time to develop the property for low-income housing and seeks to extend the property tax exemption previously approved by the governing body, then it shall provide a written request to the governing body and include supporting documentation with the request. The written request shall be on a form supplied by the City.

B. If the corporation submits a written request with supporting documentation, the governing body shall review the request. The governing body may use any of the following factors to determine whether to grant or deny an extension to the corporation including, but not limited to:

1. Whether the corporation has created any designs for the proposed development of low-income housing on the property;

2. Whether the corporation has applied for, or received, any permits relating to development of low-income housing on the property;

3. Whether the corporation has applied for, or received, any private or public funding for development of low-income housing on the property, including any tax credits;

4. Whether the corporation has contracted with another party to begin development of low-income housing on the property;

5. Whether the corporation has made any site improvements towards development of low-income housing on the property; or

6. Whether there was any uncontrollable or unforeseeable act or circumstance beyond the corporation’s reasonable control that caused or is causing the delay in developing the low-income housing on the property.

C. The governing body shall determine whether to grant or deny an extension within 30 days of receiving the written request and supporting documentation from the corporation. [BC 3.20.050, added by Ordinance No. 4668, 12/1/15]