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<br />RESOLUTION NUMBER 4574"'A <br /> <br />A RESOLUTION EXTENDING THE COMPLETION DATE FOR <br />CONSTRUCTION OF LOW-INCOME RENTAL HOUSING GRANTED <br />A PROPERTY TAX EXEMPTION UNDER RESOLUTION NO. 4497 <br />(METROPOLITAN AFFORDABLE HOUSING CORPORATION). <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. On July 8, 1996 the City Council adopted Resolution No. 4497 approving a low-income <br />rental housing property tax exemption for property located at 5425 Fox Hollow Road, Eugene, Oregon <br />(Metropolitan Affordable Housing Corporation). <br /> <br />B. Subsection (1 )(a) of Section 2.940 of the Eugene Code, 1971 provides that the City Manager <br />may recommend to the Council that the exemption be terminated if the construction of the low-income <br />rental housing is not completed within two years after the date of approval if an extension under subsection <br />(4) of that section has not been granted. Subsection (4) authorizes the Council to extend the deadline for <br />completion of construction for an additional 12 consecutive months if the failure to complete is due to <br />circumstances beyond the control of the owner, and the owner has been and can be expected to act in good <br />faith and with due diligence. <br /> <br />C. Although a portion of the units have been completed and are now occupied, Metropolitan <br />Affordable Housing Corporation has advised that additional time is required to complete construction of <br />the remaining units, and has requested an extension to July 8, 1999. The Council finds that Metropolitan <br />Affordable Housing Corporation has been acting in good faith and with due diligence, and the inability to <br />meet the July 8, 1998 construction completion deadline is due to circumstances beyond its control. <br /> <br />Now, therefore, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal <br />Corporation of the State of Oregon, as follows: <br /> <br />Section 1. Based on the above findings, which are adopted herein, Metropolitan Affordable <br />Housing Corporation is hereby granted an extension to July 8, 1999 in which to complete construction of <br />the low-income rental housing for which a property tax exemption was granted under Resolution No. 4497 <br />on July 8, 1996. <br /> <br />Section 2. The City Recorder is requested to forward a copy of this Resolution to Metropolitan <br />Affordable Housing Corporation, and to append a copy hereof to Resolution No. 4497. <br /> <br />The foregoing Resolution adopted the 28th day of September, 1998. <br /> <br />ll-rl/'.-v <br /> <br />City Recorder <br /> <br />Resolution - 1 <br />