A. The Director shall approve an application for tax exemption if the Director determines the project meets the eligibility requirements in RMC 3.38.060. If the application fails to meet the requirements of RMC 3.38.060 the Director must deny the application. If the application is approved, the owner shall enter into a MFTE contract with the City regarding the terms and conditions of the project and eligibility for exemption under this chapter. The Director’s approval or denial shall take place within 90 days of the Director’s receipt of the completed application. Following execution of the MFTE contract by the owner and the City, the Director shall issue a conditional certificate of acceptance of tax exemption. The conditional certificate shall expire three years from the date of approval unless an extension is granted as provided in this chapter.

B. If the application is denied, the Director shall state in writing the reasons for the denial and send notice of denial to the owner’s last known address within ten calendar days of the denial.

C. An owner may appeal the Director’s denial in accordance with the provisions of RMC 3.38.150. (Ord. 2892 § 3 (part), 2017).