Resolution No. 5119 - Laserfiche WebLink

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RESOLUTION NO. 5119 A RESOLUTION AMENDING RESOLUTION NO. 5067 CONCERNING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR THE PROPERTY LOCATED AT 1535-1563CITY VIEW STREET, EUGENE, OREGON. (Stellar Apartments Limited Partnership / Owner) The City Council of the City of Eugene finds that: A. On July 23, 2012, the City Council passed Resolution No. 5067, a copy of which (excluding its Exhibit A) is attached as Exhibit Athis Resolution. Resolution No. 5067 approved the application of St. Vincent de Paul Society of Lane County, Inc. for an exemption from ad valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 ofthe Eugene Code, 1971)for the property located at 1535- 1563 City View Street, Eugene, Oregon, 97401 (Assessor’s Map 17-04-36-33,Tax Lot No. 201; Assessor’s Property Account Number 0483857),for the development of 54residential units and common areas,and for the parcel of land.Stellar Apartments Limited Partnership is the owner the real property, with St. Vincent de Paul Society as general partner. B. At the time that Council passed Resolution No. 5067, the common areaand parcel of land referenced in the Resolution for use as a garden was not yet under the ownership of Stellar Apartments Limited Partnership and, therefore, was not subject to the tax exemption. C. In January of 2014, Stellar Apartments Limited Partnershipacquired the areaof land (a portion of Assessor’s Map 17-04-36-33,Tax Lot No. 400) that it intended to use for the common areasreferenced in Resolution No. 5067, and completed a property line adjustment which incorporated the newly acquired areainto Assessor’s Map 17-04-36-33,Tax Lot No. 201. D. Itis necessary to amend Resolution No. 5067 to allow for the tax exemption to be applied to the newly acquired areaof land. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Based upon the above findings,the areaof landthat was acquired by Stellar Apartments Limited Partnershipin January of 2014, and, by property line adjustment, incorporated into the property identified as Assessor’s Map 17-04-36-33,Tax Lot No. 201, is declared exempt from local ad valorem property taxation commencing July 1, 2015, and continuing until the tax exemption granted by Resolution No. 5067 expires.The revised boundaries of the property identified as Assessor’s Map 17-04-36-33,Tax Lot No. 201are described in Exhibit B attached to this Resolution. Resolution -Page 1of 2