3.78.130 Annual compliance review and report.
A. No later than February 1st of each calendar year, for the tax exemption period, the property owner shall file a notarized declaration with the planning director indicating the following:
1. A statement of occupancy, vacancy, and monthly rent charged for each dwelling unit of the projects that received the limited tax exemption under this chapter during the previous twelve months;
2. A certification that the property has not changed use and, if applicable, that the property has been in compliance with the contract with the city, and if applicable, has been in compliance with affordable housing requirements;
3. A description of any subsequent improvements or changes to the property after issuance of the certificate of tax exemption;
4. Information demonstrating that the property has been in compliance with the affordable housing requirements of this chapter; and
5. For the affordable units, the income of each household at the time of initial occupancy and their current income; and
6. Any additional information requested regarding the units receiving a tax exemption and meeting any reporting requirements under Chapter 84.14 RCW.
B. The city shall maintain a verification program for declarations. Failure by the recipient of the tax exemption to submit an annual declaration, supported by accurate documentation, may result in the tax exemption being canceled.
C. The city shall annually report to the Washington State Department of Commerce information consistent with the requirements of Chapter 84.14 RCW.