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study and report to the legislature on city and county implementation 1 of the multifamily housing property tax exemption. The report must: 2 (a) Review whether cities have practices in five areas: 3 (i) Evaluating the financial feasibility and total costs of 4 proposed developments under the exemption; 5 (ii) Monitoring rent, occupancy, and demographics of tenants of 6 exempt housing; 7 (iii) Identifying direct or indirect displacement risks, and 8 changes in income and rent distributions associated with new housing 9 development, and plans and approaches; 10 (iv) Identifying practices that encourage permanent affordable 11 rental opportunities; and 12 (v) Monitoring whether the exemption assists cities in meeting 13 goals under the growth management act; 14 (b) Identify at least five case studies on a range of cities and 15 provide analysis: 16 (i) Comparing the rent in income restricted units to market rate 17 units in the same development and to the surrounding area; 18 (ii) Comparing the anticipated impact on rents and project 19 budgets, and on public benefit under eight-year, 12-year, and 20-year 20 property tax exemption scenarios; 21 (iii) Looking at permanent affordable rentals; and 22 (iv) Evaluating changes in income distribution, rent 23 distribution, commute/location, and displacement risks in areas with 24 exempt housing; and 25 (c) Estimate other state and local tax revenue generated by new 26 housing developments and how it compares to the property tax 27 exemption. 28 (112) $195,000 of the general fund—state appropriation for fiscal 29 year 2022 is provided solely for a grant to Spokane county for costs 30 related to redistricting activities required by chapter 36.32 RCW. 31 (113) $130,000 of the general fund—state appropriation for fiscal 32 year 2022 and $130,000 of the general fund—state appropriation for 33 fiscal year 2023 are provided solely for the department to contract 34 with a nonprofit organization to provide tiny homes for veterans. 35 (114) $170,000 of the general fund—state appropriation for fiscal 36 year 2022 and $130,000 of the general fund—state appropriation for 37 fiscal year 2023 are provided solely for the department to perform an 38 analysis of the property operations and maintenance costs and tenant 39 p. 788 ESSB 5187.SL