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A. The urban center, as defined in this chapter, of the City of Snohomish lacks sufficient available, desirable and convenient residential housing to meet the needs of the public, and more current and future residents of Snohomish would be likely to live in the City’s urban center if additional desirable, convenient, attractive and livable places to live were available.

B. The development of such housing units in the urban center of the City will attract and maintain a significant increase in the number of residents, thus making the area more vibrant, and will help to stimulate business, entertainment and cultural activities. Accordingly, development of additional housing within the urban center of the City of Snohomish will help to achieve the planning goals mandated by the Growth Management Act under RCW 36.70A.020.

C. The tax incentive provided by Chapter 84.14 RCW will stimulate the creation of new and enhanced residential structures within the City’s urban center, benefiting and promoting the public health, safety and welfare by encouraging residential redevelopment.

D. This housing tax incentive program also would promote further economic development and enhanced public safety in the City’s urban center by creating an influx of new residents who will utilize urban services, stimulate redevelopment consistent with the policies of the Snohomish growth management comprehensive plan, and encourage increased residential opportunities.

E. The providing of additional housing opportunities in the residential targeted area described in SMC 3.50.050 meets the requirements of Chapter 84.14 RCW.

F. The notice of hearing given for the designation of the residential targeted area and the adoption of this chapter meet the requirements of RCW 84.14.040. (Ord. 2366, 2019; Ord. 2454, 2022)