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<br />Upon completion of construction, the project shall consist a 12-unit complex (4 <br />units will be available for participants with HUD V ASH Section 8 vouchers and <br />will pay no more than 30% of their monthly income in rent; 3 units will be <br />available for veterans eligible for V A Grant Per Diem payments and no rent will <br />be charged for these units; 5 units will be rented at $230 per month) which will <br />provide transitional and permanent housing for chronically homeless Lane County <br />veterans. <br /> <br />Section 2. That the land and units described in Section 1 above are declared exempt <br />from local ad valorem property taxation commencing July 1, 2008, and continuing for a <br />continuous period of twenty (20) years unless earlier terminated in accordance with the <br />provisions of Section 2.940 of the Eugene Code, 1971, which provides for termination after an <br />opportunity to be heard if: <br /> <br />2.1 Construction or development of the exempt property differs from the construction <br />or development described in the application for exemption, or was not completed by <br />January 1,2010, and no extensions or exceptions were granted; or <br /> <br />2.2 The property owner fails to comply with provisions of ORS 307.515 to 307.523, <br />provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council <br />Resolution No. 4623, or any conditions imposed in this Resolution. <br /> <br />The tax exemption shall be terminated immediately, without right of notice or appeal, pursuant to <br />the provisions of ORS 307.531 in the event: <br /> <br />2.3 The exempt property is being held for future development of low income rental <br />housing and it is used for any purpose other than the provision of low income rental <br />housing; or <br /> <br />2.4 The county assessor determines that a change of use to other than that allowed has <br />occurred for the housing unit, or portion thereof, or, if after the date of this approval, a <br />declaration as defined in ORS 100.005 is presented to the county assessor or tax collector <br />for approval under 0 RS 100.110. <br /> <br />Section 3. The City Manager, or the Manager's designee, is requested to forward a copy <br />of this Resolution to the applicant, and to the other taxing affected districts, within ten days from <br />the date of adoption of this Resolution, and to cause a copy of this Resolution to be filed with the <br />Lane County Assessor on or before April 1, 2008. <br /> <br />Section 4. This Resolution shall become effective immediately upon its adoption. <br /> <br />The foregoing Resolution adopted and effective t e 8th day of October, 2007. <br /> <br />I~~~ <br /> <br /> <br />Resolution - 2 <br />