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<br />RESOLUTION NO. 4938 <br /> <br />A RESOLUTION DENYING A MULTIPLE-UNIT PROPERTY TAX <br />EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 693 EAST <br />16TH AVENUE, EUGENE, OREGON (COREY DEVELOPTMENT, LLC). <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. Our Property Holdings One, LLC, is the owner of real property located at 693 <br />East 16th Avenue, Eugene, Oregon, 97401, more particularly described on the attached Exhibit <br />A. On April 18, 2007, the City of Eugene received an application submitted by Corey <br />Development, LLC pursuant to the City's Multiple-Unit Property Tax Exemption Program <br />(Sections 2.945 and 2.947 of the Eugene Code, 1971) with respect to residential units to be <br />constructed on the property. <br /> <br />B. On June 25, 2007, the City Council denied applicant's request for the property tax <br />exemption. <br /> <br />C. On January 7, 2008, David Corey submitted a revised application for Corey <br />Development, LLC and requested that the Council reconsider its June 25, 2007 decision based on <br />the redesigned project. The revised application proposes a smaller apartment complex than the <br />complex proposed in the original application, and includes an updated income analysis for the <br />property illustrating that construction of this project is not viable without the property tax <br />exemption. <br /> <br />D. A display ad soliciting recommendations or comments from the public was <br />published in the Register-Guard on February 25, 2008, and advised that written comments would <br />be accepted for a period of 30 days from the date of publication. Recommendations or <br />comments were also solicited from the Planning Commission, and other interested City <br />departments, agencies, and neighborhood groups. No comments were received in response to the <br />ad. <br /> <br />E. The Report and Recommendation attached as Exhibit B recommends that the <br />application be approved and the exemption granted. In making the recommendation, the <br />Director found that the applicant submitted all materials, documents and fees required by the <br />application and the City as set forth in Section 2.945 of the Eugene Code, 1971, and is in <br />compliance with the policies set forth in the Standards and Guidelines adopted by Administrative <br />Order No. 53-04-03-F. <br /> <br />F. The project consists of the development of two residential one-bedroom units, and <br />five residential two-bedroom units, which are not designed for, nor will be used as, transient <br />accommodations. <br /> <br />Resolution - Page 1 <br />08 Corey-Hilyard Reapp. MUPTE Denial Resol. (00196363) <br />