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RESOLUTION NO. 49S2 A RESOLUTION APPROVING A MULTIPLE-UNIT PROPERTY TAX EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 4S0 EAST 14TH AVENUE, EUGENE, OREGON (TWENTY LLC, APPLICANT- OWNER). The City Council of the City of Eugene finds that: A. Twenty LLC is the owner of real property located at 450 East 14th Avenue, Eugene, Oregon, more particularly described in the attached Exhibit A ("the property"). B. In February of 2008, Twenty LLC submitted an application pursuant to the City's Multiple-Unit Property Tax Exemption Program (Sections 2.945 and 2.947 of the Eugene Code, 1971), with respect to residential units identified as The Fenway ("the project") to be constructed on the property. C. On April 14, 2008, the City Council denied applicant's request for the property tax exemption. D. On or about May 27, 2008, the City of Eugene received a revised application submitted by Twenty, LLC, pursuant to the City's Multiple-Unit Property Tax Exemption Program. The revised application updated the project's cost/income analysis, proposed a larger building, added one unit, altered unit configurations to diversify the number of bedrooms, and moved the house located on the property forward on the lot. E. A display ad soliciting recommendations or comments from the public was published in the Register-Guard on June 1, 2008, and advised that written comments would be accepted for a period of 30 days from the date of publication. No comments were received in response to the ad. Recommendations or comments were also solicited from the Planning Commission, and other interested City departments, agencies, and neighborhood groups. F. The Report and Recommendation attached as Exhibit B, which was prepared by the Director of the Planning and Development Department ("the Director") as designee of the City Manager, recommends that the revised application be approved and the exemption granted. In making the recommendation, the Director found that the applicant submitted all materials, documents and fees required by the application and the City as set forth in Section 2.945 of the Eugene Code, 1971, and is in compliance with the policies set forth in the Standards and Guidelines adopted by Administrative Order No. 53-04-03-F. G. The project consists of the development of one residential two-bedroom unit, two residential three-bedroom units, two residential four-bedroom units, and two residential five- bedroom units, which are not designed for, nor will be used as, transient accommodations. Resolution - Page 1 of 2 08 Fenway-Twenty Reapp. #1 MUPTE Approval Resol. (00198935)