Shoreline city council meeting Monday, January 29, 2024 includes public hearing on proposal to extend application deadlines for multifamily projects

Thursday, January 25, 2024

Shoreline City Council 2024
The Shoreline City Council Regular Meeting will be held Monday, January 29, 2024 in the Council Chamber using a hybrid format where both in-person and online attendance is allowed. 

You may attend the meeting in person, join via Zoom webinar, or listen to the meeting over the telephone. 

Council is providing opportunities for public comment in person, remotely, or by submitting written comment. 
Council Links:
These three items are on the agenda:

ACTION ITEM  
  • Public Hearing and Discussion of Ordinance No. 1003 – Extension of Interim Regulations to Extend Application Deadlines for Multifamily and Mixed-Use Projects That Are Ready to Issue and Delayed Due to the Unavailability of Construction Financing
Excerpts from the staff report:

In the Puget Sound region, slower tenant growth, record-high vacancy rates, and higher interest rates continue to stifle new construction in the region and leasing activity has slowed. More new apartments came onto the market in 2022 and 2023 than in any previous two-year period, and current vacancy rates are at a 15-year high.

Developers are still experiencing difficulties in securing lending for certain projects in Shoreline. Some developers were also met with unanticipated development costs in the 148th Street Station Area related to high ground water and lack of adequate utilities to serve multifamily and mixed-use developments.

Staff have heard from developers in Shoreline that long identified and secured by option financing for multifamily and mixed-use projects in our area is being terminated and not extended. Additionally, the cost of construction is high, rents are leveling out, the cost of lending and insurance has also dramatically increased

Proposed Ordinance No. 1003 has the potential to protect the time and financial investment of applicants for mixed use and multifamily developments. Supporting the viability of approved Ready to Issue permit applications supports the greater economy and community with little or no impact on the City’s resources.

STUDY ITEMS

(a) Discussion of Law Enforcement Accountability Study (No action will be taken)

The City of Shoreline retained the Center for Public Safety Management, LLC (CPSM) to provide a third-party assessment of law enforcement services and accountability in Shoreline, including the internal mechanisms of the King County Sheriff’s Office (KCSO) – both from a preventative and reactive perspective. The intent of this study was to ensure public trust and safety and to improve the relationship between Shoreline Police and the community they serve.

The City Council will receive a brief update on the finding of the study. The City Council will be joined by the Public Safety Consultant and Team Leader, Jarrod Burguan, from CPSM. Chief Kelly Park will also be present to provide context to some of the findings highlighted in the study. The report is attached to the staff report.

(b) Discussion of Next Steps for the Distributed City Maintenance Facility Plan (CMF) (No action will be taken)

The execution of the Distributed City Maintenance Facility Plan (CMF), approved by the City Council in 2019, is nearing completion. The CMF authorized and funded “early work” improvements at the North Maintenance Facility (North MF), design and construction of improvements at the Ballinger Maintenance Facility (Ballinger MF) and schematic level and final design for the Hamlin Maintenance Facility (Hamlin MF) and North MF. The early work at North MF is complete, the Ballinger MF improvements are scheduled for completion in the first half of 2024 and the schematic design phase of the Hamlin MF is complete. With completion of the schematic design, the next step in thePlan is to complete the final design for Hamlin MF and North MF.

There are impediments to implementing the CMF as originally envisioned however, with the most notable barrier being insufficient funding to construct facility improvements at Hamlin MF and North MF. As a result, staff have identified a revised strategy for the maintenance facilities.

--Pam Cross


1 comments:

Anonymous,  January 27, 2024 at 11:00 PM  

So glad to see financing for these hideous buildings being terminated.

Post a Comment

We encourage the thoughtful sharing of information and ideas. We expect comments to be civil and respectful, with no personal attacks or offensive language. We reserve the right to delete any comment.

ShorelineAreaNews.com
Facebook: Shoreline Area News
Twitter: @ShorelineArea
Daily Email edition (don't forget to respond to the Follow.it email)

  © Blogger template The Professional Template II by Ourblogtemplates.com 2009

Back to TOP