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A. Application Procedure. The owner of property applying for exemption under this chapter shall submit an application to the director, on a form established by the director. The owner shall verify the application by oath or affirmation. The application shall contain such information as the director may deem necessary or useful, and shall include but not be limited to:

1. A brief written description of the project, including phasing if applicable, and preliminary schematic site and floor plans of the multifamily units and the structure(s) in which they are proposed to be located;

2. A statement from the owner acknowledging the potential tax liability when the property ceases to be eligible for exemption under this chapter; and

3. Information describing how the owner will comply with the affordability requirements in BMC 3.90.120.

B. Fee. At the time of application under this section, the owner shall pay to the city an initial application fee, as established by resolution.

C. Notice of Completeness. The director shall notify the owner within 30 days of the application being filed if the director determines that an application is not complete and shall identify what additional information is required before the application will be complete. Within 14 days of receiving additional information, the director shall notify the owner in writing if the director determines that the application is still not complete, and what additional information is necessary. An application shall be deemed to be complete if the director does not notify the owner in writing by the deadline in this section that the application is incomplete; however, a determination of completeness does not preclude the director from requiring additional information during the review process if more information is needed to evaluate the application according to the criteria in this chapter.

D. Deadline. The deadline for application generally shall be any time before the date the first building permit is issued for the multifamily housing structure. The director may determine if a project’s circumstances warrant allowing flexibility in the timing of application submittal. (Ord. 2358 § 1, 2021).