WHEREAS, Northgate South Commons, LLC has submitted a complete application for multifamily housing limited property tax exemption as required by SMC Chapter 5.73, proposing to construct multifamily housing ("Multifamily Housing") known as Thornton Place on property situated at 307 Northeast Thornton Place and 337 Northeast Thornton Place in Seattle, Parcel Number 3226049181, legally described as follows:

That portion of the Southeast Quarter of the Northeast Quarter of the Northwest Quarter of Section 32, Township 26 North, Range 4 East of the Willamette Meridian, described as follows:

Beginning at the intersection of the West line of said subdivision and South line of the North 30.00 feet thereof, said South line being the South margin of Northeast 103rd Street; thence South 88 degrees 15'44" East 446.63 feel along said South margin; thence South 01 degrees 44'16" West 461.07 feet; thence South 28 degrees 12'43" West 154.29 feet to the North line of the South 33.00 feet of said subdivision, said North line being the North margin of Northeast 100th Street; thence North 88 degrees 16'22" West 366.35 feet along said North margin to the West line of said subdivision; thence North 00 degrees 38"18" East 599.36 feet along said West line to the point of beginning, in King County, Washington; and

WHEREAS, the Director of Housing has determined that the Multifamily Housing, if completed as proposed, will comply with the provisions of SMC 5.73.040 and, in accordance with SMC 5.73.060 A., has approved the application for limited property tax exemption for the proposed Multifamily Housing; NOW, THEREFORE,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEATTLE, THE MAYOR CONCURRING, THAT:

The Director of Housing is authorized to enter into the Multifamily Housing Limited Property Tax Exemption Agreement with Northgate South Commons, LLC or its heirs, successors and assigns that own the Multifamily Housing, concerning the Multifamily Housing, in substantially the form attached as Exhibit A, on behalf of the City of Seattle.

Adopted by the City Council the ____ day of _________, 2009, and signed by me in open session in authentication of its adoption this _____ day of __________, 2009.

_________________________________

President __________of the City Council

THE MAYOR CONCURRING:

_________________________________

Gregory J. Nickels, Mayor

Filed by me this ____ day of _________, 2009.

____________________________________

City Clerk

(Seal)

Exhibit A: Multifamily Housing Limited Property Tax Exemption Agreement

Amy Gray/ASG

Thornton Place Apartments MFTE Resolution