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<br />Development Department, the City Council hereby approves the application of S1. Vincent dePaul <br />Society of Lane County, Inc. for an ad valorem property tax exemption under the City's Low-Income <br />Rental Housing Property Tax Exemption Program for the property located at 38th and Hilyard <br />(Assessor's Number 18030833, Tax Lots 100 and 201), Eugene, Oregon, as more particularly <br />described on Exhibit "A" attached hereto and incorporated herein by reference, subject to the <br />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 up to 24 low-income rental housing units <br />(presently planned to consist of 4 one bedroom, 12 two bedroom and 8 three bedroom units) <br />and all of the property shall be used for the purpose of providing low-income rental housing. <br /> <br />Section 2. That the land and the improvements constructed thereon as described in <br />Section 1 above are hereby declared exempt from local ad valorem property taxation commencing <br />July 1 of the tax year following certification of completion and continuing for a continuous period <br />of 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 days <br />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, 1999. <br /> <br />The foregoing Resolution adopted the :<.5~ay of November, 1998. <br /> <br />1/- <br /> <br />t1lfr <br /> <br />City Recorder <br /> <br />RESOLUTION - 2 <br />