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Four criteria must be met for special valuation under this chapter. The property must:

(1) Be an historic property;

(2) Fall within a class of historic property determined eligible for special valuation;

(3) Be rehabilitated at a cost that meets the definition set forth in RCW 84.26.020(2) within twenty-four months prior to the application for special valuation; and

(4) Be protected by an agreement between the owner and the commission as described in RCW 84.26.050(2) and WAC 254-20-120. (Added by Amended Ord. 06-038, Dec. 13, 2006, Eff date Jan. 5, 2007).