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<br />Department attached as Exhibit B, the City Council approves the application of Eugene <br />Downtown Cohousing LLC for an ad valorem property tax exemption under the City's Multiple- <br />Unit Property Tax Exemption Program for the residential units to be constructed at the northwest <br />comer of 11th Avenue and Lincoln Street, Eugene, Oregon, (map and tax lot numbers 17-03-31- <br />13-12900, 17-03-31-13-13000, 17-03-31-13-13100, 17-03-31-13-13200, and 17-03-31-13- <br />13300), and more particularly described on the attached Exhibit A, subject to the following <br />conditions: <br /> <br />1. The project shall consist of the development of two one-bedroom units, <br />ten two-bedroom units, 11 three bedroom units, and one four-bedroom unit. In addition, <br />there are four commercial/retail units on the ground floor which are not included in this <br />request for a tax exemption. The units are not designed for, nor will be used as, transient <br />accommodations. <br /> <br />2. The project shall be completed on or before January 1, 2012. <br /> <br />3. The project shall include those public benefit design elements in the <br />Standards and Guidelines as described in Section 2.2 of the Report and Recommendation <br />attached as Exhibit B. <br /> <br />4. The project shall be in conformance with all local plans and planning <br />regulations, including special or district-wide plans developed and adopted pursuant to <br />ORS Chapters 195, 196, 197,215 and 227. <br /> <br />Section 2. The residential units to be constructed upon the property described in <br />Section 1 above are declared exempt from local ad valorem property taxation beginning July 1 of <br />the year following certification of completion and continuing for a continuous period of ten years <br />unless earlier terminated in accordance with the provisions of Section 2.947 of the Eugene Code, <br />1971. <br /> <br />Section 3. The City Manager, or the Manager's designee, is requested to forward a <br />copy of this Resolution to the applicants, and to the other affected taxing districts, within ten <br />days, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or <br />before April 1, 2008. <br /> <br />Section 4. <br /> <br />This Resolution shall become effective immediately upon its adoption. <br /> <br />The foregoing Resolution adopted and effective the 13th day of November, 2007. <br /> <br />llj;lCL (~/~ <br /> <br />City Reco~der <br /> <br />Resolution - Page 2 <br />