Title 08 Taxation and Revenue
Chapter 08.15 Multiple-family Housing Property Tax Exemption
Section 08.15.070 Extension of Conditional Agreement
The conditional agreement may be extended by the director for a period not to exceed twenty-four consecutive months. The applicant shall submit a written request stating the grounds for the extension together with the appropriate fee as set forth in SMC 8.02.0695 for the City’s administrative cost to process the request. The director may grant an extension if the director determines that:
- the anticipated failure to complete construction or rehabilitation within the required time period is due to circumstances beyond the control of the owner; and
- the owner has been acting and could reasonably be expected to continue to act in good faith and with due diligence; and
- all the conditions of the conditional agreement between the applicant and the City will be satisfied upon completion of the project.
Date Passed: Monday, August 15, 2022
Effective Date: Sunday, September 25, 2022
ORD C36243 Section 7
