The following historic preservation special valuation agreement shall be used by local review boards as the minimum agreement necessary to comply with the requirements of RCW 84.26.050(2):
This Historic Preservation Agreement is entered into on this . . . . day of . . . . . . . ., 19. . . ., by and between . . . . . . . . (hereinafter referred to as APPLICANT) and . . . . . . . . (hereinafter referred to as LOCAL REVIEW BOARD).
WHEREAS APPLICANT is the owner of record of the historic property commonly known as . . . . . . . ., located at . . . . . ., State of Washington, as more fully described in Exhibit A, attached hereto and incorporated herein by this reference (hereinafter referred to as PROPERTY); and
WHEREAS APPLICANT has requested special valuation of the PROPERTY pursuant to chapter 84.26 RCW; and
WHEREAS the LOCAL REVIEW BOARD has determined that the PROPERTY has been substantially rehabilitated within the two year period preceding the date of application and the actual cost of said rehabilitation equals or exceeds twenty-five percent of the assessed valuation of the PROPERTY prior to the improvements; and
WHEREAS the LOCAL REVIEW BOARD has verified that the PROPERTY is historic property that falls within a class of properties determined eligible for special valuation by local ordinance or administrative rule; and
WHEREAS the LOCAL REVIEW BOARD finds that the rehabilitation work has not altered the PROPERTY in any way which adversely affects those elements which qualify it as historically significant;
NOW THEREFORE, in recognition of the foregoing, the APPLICANT enters into this Agreement with the LOCAL REVIEW BOARD and agrees to adhere to the following terms and conditions for the ten-year period of the special valuation classification:
a. a loss of historic integrity, | |
b. sale or transfer to new ownership exempt from taxation, or | |
c. sale or transfer to new ownership which does not intend to agree to the terms of this Agreement nor file a notice of compliance form with the County Assessor. |
Term of the Agreement. This Agreement shall take effect immediately upon signature and remain in effect until the property is no longer eligible for special valuation either through disqualification under RCW 84.26.080 or upon expiration of the ten-year period of special valuation commencing January 1, 19. . . ., and ending December 31, 19. . ..
Hold Harmless. The APPLICANT or its successors or assigns shall hold the State and the LOCAL REVIEW BOARD harmless from any and all liability and claims which may be asserted against the State and the LOCAL REVIEW BOARD as a result of this Historic Preservation Special Valuation Agreement or the participation by the APPLICANT in the Special Valuation Program.
Governing Law. The terms of this Agreement shall be construed in accordance with the laws of the state of Washington.
Wash. Admin. Code § 254-20-120
Statutory Authority: RCW 84.26.120. 86-21-103 (Order 86-11), § 254-20-120, filed 10/20/86.