18A.68.010 Purpose.
A. As provided in Chapter 84.14 RCW, the purpose of this Chapter is to provide limited exemptions from ad valorem property taxation for multi-family housing in designated residential targeted areas to:
1. Encourage increased residential opportunities, including affordable housing units, within urban unincorporated areas of Pierce County designated by the Pierce County Council as residential targeted areas;
2. Stimulate new construction or rehabilitation of existing vacant and underutilized buildings for multi-family housing in designated residential targeted areas to increase and improve housing opportunities, including affordable housing;
3. Assist in directing future population growth to designated residential targeted areas, thereby reducing development pressure on single-family residential neighborhoods;
4. Achieve development densities which are more conducive to transit use in designated residential targeted areas; and
5. Stimulate housing opportunities near college campuses to promote dense, transit-oriented, walkable college communities.