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A. A property that receives a tax exemption under this chapter shall continue to comply with the MFTE contract, MFTE covenant, and the requirements of this chapter in order to retain its property tax exemption.

B. Within 30 days after the first anniversary of the date the city filed the final certificate of tax exemption and each year for the tax exemption period, or as otherwise provided in the MFTE contract, the property owner shall file a certification with the director, verified upon oath or affirmation, which shall contain such information as the director may deem necessary or useful, but at a minimum shall include the following information:

1. A statement of occupancy and vacancy of the multifamily units during the previous year;

2. A certification that the property has not changed use since the date of filing of the final certificate of tax exemption and continues to comply with the MFTE contract and MFTE covenant with the city and the requirements of this chapter;

3. A description of any improvements or changes to the property made after the filing of the final certificate or last declaration, as applicable;

4. Information demonstrating the owner’s compliance with the affordability requirements of BMC 3.90.120;

a. The total monthly rent of each unit;

b. The income of each household at the time of initial occupancy and their current income;

5. The value of the tax exemption for the project; and

6. Any additional information requested by the City pertaining to the units receiving a tax exemption (pursuant to meeting any reporting requirements under Chapter 84.14 RCW). (Ord. 2358 § 1, 2021).