• City Council may fully or partially waive Transportation and Park development impact fees to stimulate affordable housing through VMC  20.915.
• The applicant in turn is required to record a covenant on the property to maintain the affordability restrictions on the project in perpetuity.
• If the applicant fails to comply with the requirements of the impact fee ordinance the applicant will be required to pay impact fees at the rate at the time the property use changes.

Goal 3, Objective 3.2: Improve services available to underserved or vulnerable residents.

The WXV apartment project is for 69 new multifamily units for people over 62 years of age and earning at or below 50% of the area median income. The project is located at 1501 Esther in downtown Vancouver. Upon completion the project will be owned and operated by WXV Senior Housing LLC with Vancouver Housing Authority as a general partner.

The developer is requesting an 80% exemption of Traffic and Park development impact fees. The total Park impact fees for the development are $113,091.00. The applicant is requesting a partial exemption of Park impact fees of 80% or $90,472.80.

The total Traffic impact fee is $22,029.45. The applicant is requesting a partial exemption of Traffic impact fees of 80% or $17,623.56. If approved the total of the combined forgone Traffic and Park impact fees is $108,096.36.

In return for the impact fee waivers the applicant is required to record a covenant against the property attesting that:

• The property is prohibited from being used for any purpose other than for low-income housing. Low-income housing is defined as housing for which the monthly housing expense is no greater than thirty percent of eighty percent of the median family income adjusted for family size for Clark County, as reported by the United States Department of Housing and Urban Development.
  
• If the property is converted to a use other than for low-income housing, the current property owner must pay the applicable impact fees in effect at the time of conversion.
  
• The development is exclusively restricted to persons sixty-two years of age or older.

1. Adds 69 units of low-income, senior housing.
2. Low-income restriction on the units will remain in perpetuity by covenant.
3. Will provide short term job creation.
4. Additional residents will benefit downtown businesses.