A. Within 30 calendar days after the first anniversary of the date of filing the final certificate of tax exemption and each year for the tax exemption period, the property owner shall be required to file a notarized declaration with the city manager indicating the following:

1. A statement of occupancy and vacancy of the multifamily units during the previous 12 months;

2. A certification by the owner that the property has not changed use and continues to be in compliance with the contract with the city and the applicable requirements of this chapter;

3. A description of changes or improvements to the property made after the city’s issuance of the final certificate of tax exemption;

4. The total monthly rent of each multifamily housing unit rented or the total sale amount of each unit sold during the 12 months ending with the anniversary date;

5. A breakdown of the number, type, and specific multifamily housing units rented or sold during the 12 months ending with the anniversary date;

6. If granted a 12-year exemption, information demonstrating the owner’s compliance with the affordability requirements of this chapter, including, but not limited to, the income of each renter household at the time of initial occupancy or the income of each purchaser of owner-occupied units at the time of purchase;

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

8. Any additional information requested by the city pursuant to meeting any reporting requirements under Chapter 84.14 RCW.

B. City staff may also conduct on-site verification of the declaration and reporting required under this section. Failure to submit the annual declaration and report may result in cancellation of the tax exemption pursuant to this chapter and shall result in a review of the exemption, as provided in RCW 84.14.110.

C. If the city issues final tax exemption certificates pursuant to this chapter, the city manager shall submit the report required by RCW 84.14.100 to the State Department of Commerce by April 1st of each year. (Ord. 2021-23 § 1 (Exh. A), 2021)