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

The following definitions are specific to this chapter and shall have the following meanings:

A. “Affordable housing” and “affordable unit” mean a dwelling unit(s) reserved for occupancy by eligible households and having an affordable rent.

B. “Affordable rent” means that the housing expenses for the unit do not exceed 30 percent of the applicable percentage of the area median income adjusted for household size designated in BMC 3.90.120 for qualifying affordable units.

C. “Area median income” and “AMI” mean the median family income of the Seattle-Bellevue, WA, HUD Metro Fair Market Rent (FMR) Area as most recently determined by the Secretary of Housing and Urban Development (“HUD”) under Section 8(f)(3) of the United States Housing Act of 1937, as amended. In the event that HUD no longer publishes median family income figures for this FMR area, the director may estimate the area median income in such manner as the director shall determine.

D. “County assessor” means the assessor of the county in which the project is located.

E. “Director” means the director of the city’s community development department, or his or her authorized designee.

F. “Eligible household” means one or more adults and their dependents who certify that their household income does not exceed the applicable percentage of the area median income, adjusted for household size, and who certify that they meet all qualifications for eligibility including, if applicable, any requirements for recertification on income eligibility.

G. “Housing expense” means rent, tenant-paid utilities, one parking space, and other tenant expenses required for the dwelling unit.

H. “Household income” means the aggregate of all annual income that could be reported as income on federal income tax returns (e.g., wages, interest income, etc.) from all household members over the age of 18 years that reside in the dwelling unit for more than three months of the year.

I. “MFTE” means multifamily housing property tax exemption.

J. “MFTE contract” means the agreement between the property owner and the city regarding the terms and conditions of the project and eligibility for exemption under this chapter, which includes the requirement to execute and record the MFTE covenant.

K. “MFTE covenant” means the agreement that is in a form acceptable to the city attorney that addresses price restrictions, eligible household qualifications, long-term affordability, and any other applicable topics relating to the affordable units.

L. “Multifamily housing” means a structure that includes multiple primary dwelling units and designed for permanent residential occupancy resulting from new construction.

M. “Owner” means the legal owner or owners of the property.

N. “Permanent residential occupancy” means multifamily housing that provides rental or owner occupancy on a non-transient basis. This includes owner-occupied or rental accommodation that is leased for a period of at least one month. This excludes hotels and motels that predominately offer rental accommodation on a daily or weekly basis.

O. “Project” means the multifamily housing or portion of the multifamily housing that is to receive the tax exemption.

P. “Residential targeted area” means an area designated by the city council as a residential targeted area in accordance with, and within the meaning of, Chapter 84.14 RCW. (Ord. 2358 § 1, 2021).