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Following notice and public hearing, or a continuance thereof, as prescribed in RCW 84.14.040, the city council may, in its sole discretion, designate all or a portion of the subregional center as described and defined in the city comprehensive plan, as a residential targeted area. The designated residential targeted area must meet the following criteria, as found by the city council in its sole discretion:

A. The targeted area is located within the city center subarea boundary of the city’s subregional center;

B. The targeted area lacks sufficient available, attractive, convenient, desirable, and livable residential housing to meet the needs of the public who would be likely to live in the targeted area, if such places to live were available;

C. The providing of additional housing opportunity in the targeted area will assist in achieving the stated purposes of RCW 84.14.007 namely:

1. Encourage increased residential opportunities within the targeted area; or

2. Stimulate the construction of new multiple-unit housing and the rehabilitation of existing vacant and underutilized buildings for multifamily housing that will increase and improve residential opportunities within the city center;

D. In designating the residential targeted area, the city council may also consider other factors, including, but not limited to, which additional housing in the targeted area will attract and maintain a significant increase in the number of permanent residents, whether additional housing in the targeted area will help revitalize the city center, whether an increased residential population will help improve the targeted area and whether an increased residential population in the targeted area will help to achieve the planning goals mandated by the Growth Management Act under RCW 36.70A.020;

E. The notice for the hearing has met the requirements of RCW 84.14.040. (Ord. 2681 § 4, 2007)