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EUGENE CITY COUNCIL <br />AGENDA ITEM SUMMARY <br /> <br /> Adoption of Resolution 4824 Extending the Completion Date for Construction of <br /> Residential Units Granted a Multiple-Unit Property Tax Exemption Under <br /> Resolution No. 4816 (Arthur C. Carmichael, Jr. and Larry Von Klein) <br /> <br />Meeting Date: February 14 2004 Agenda Item Number: 2C <br />Department: Planning and Development Staff Contact: Richie Weinman <br />www. cl. eugene, or. us Contact Telephone Number: 682-5533 <br /> <br />ISSUE STATEMENT <br />City Council is asked to approve a resolution granting an extension for the Multi-Unit Property Tax <br />Exemption (MUPTE) for "The Patterson House" at 979 Patterson. <br /> <br />BACKGROUND <br /> <br />Council Action History_ <br />On December 6, 2004, the council approved a MUPTE for The Patterson House. The adopted <br />resolution reflected the current provision in the state statutes that require the projects to be completed for <br />occupancy by January 1, 2006. January 1, 2006, is when the current State enabling legislation for <br />MUPTE sunsets, unless the current legislature extends the program. (The legislature is likely to approve <br />that extension.) However, the State statute also allows participating jurisdictions to subsequently <br />approve a one-year extension for approved projects. <br /> <br />This project is actively proceeding toward construction and may break ground in June 2005. It can not <br />reasonably be expected to be complete for occupancy by January 1, 2006. Therefore, the applicant has <br />requested the allowed extension. The council's approval of the extension is immediately critical for the <br />financing of this development. <br /> <br />This action is being placed on the Consent Calendar because it is essentially a housekeeping item to <br />comply with State law. The project itself is not changing from what the council approved. <br /> <br />The council has a 26-year history of supporting tax exemptions to encourage new housing in the core <br />area. <br /> <br />Financial and/or Resource Considerations <br />The City and other local taxing districts forgo revenue when property is exempted from taxes. This <br />project proposes new construction on a property that has been vacant for many years and in public <br /> <br /> L:\CMO\2005 Council Agendas\M050214\S0502142C.doc <br /> <br /> <br />