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<br />Council's review of the Report and Recommendation of the Director of the Planning and <br />Development Department, the City Council hereby approves the application of Charles N. <br />Shepard for an ad valorem property tax exemption under the City's Low-Income Rental Housing <br />Property Tax Exemption Program for the property located at 2256 and 2264 Roosevelt Boulevard, <br />Eugene, Oregon, as more particularly described on Exhibit "A" attached hereto and incorporated <br />herein by reference, subject to the following conditions: <br /> <br />1. <br />approval. <br /> <br />The project shall be completed within two years after the date of this <br /> <br />2. The project shall consist of twenty-four (3-8 plex units) two- bedroom low- <br />income rental housing units, and all of the property shall be used for the purpose of <br />providing low-income rental housing. <br /> <br />Section 2. That the land and the improvements constructed thereon as described in Section <br />1 above are hereby declared exempt from local ad valorem property taxation commencing July <br />1 of the tax year following certification of completion and continuing for a continuous period of <br />twenty (20) years unless earlier terminated in accordance with the provisions of Section 2.940 of <br />the Eugene Code, 1971. <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 districts affected hereby, within ten <br />days from the date hereof, and to cause a copy of this Resolution to be filed with the Lane County <br />Assessor on or before April 1, 1997. <br /> <br />The foregoing Resolution adopted the ~1ty of January, 1997. <br /> <br /> <br />Jt - '{Zder <br /> <br />Resolution - 2 <br />