Resolution No. 4597 - Laserfiche WebLink

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3. The applicant is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4327 of the City Council; 4. The applicant has executed the required Consent to Inspection of Premises and the Rent Regulatory Agreement, which agreement contains a provision requiring certification of income levels of low-income occupants; and 5. The applicant is otherwise in compliance with the criteria for approval as set forth in Subsection 2.939(3) of the Eugene Code, 1971; all as set forth in the Director's Report and Recommendation. D. The project consists of the rehabilitation and preservation of 72 units (25 one- bedroom units, 23 two-bedroom units and 24 three-bedroom units) of rental housing for the purpose of providing low-income rental housing. Now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Based upon the above findings, which are adopted herein, and the City Council's review of the Report and Recommendation of the Director of the Planning and Development Department, the City Council hereby approves the application of Oakwood Manor Limited Partnership for an ad valorem property tax exemption under the City's Low- Income Rental Housing Property Tax Exemption Program for the property located at 1665 Oakpatch Road, (Assessor's Number 470243) Eugene, Oregon, as more particularly described on Exhibit A attached hereto and incorporated herein by reference. Section 2. That the land and the improvements constructed thereon as described in Section 1 above are hereby declared exempt from local ad valorem property taxation commencing July 1 of the tax year following certification of completion and continuing for a continuous period of twenty (20) years unless earlier terminated in accordance with the provisions of Section 2.940 of the Eugene Code, 1971. Section 3. The City Manager, or the Manager's designee, is requested to forward a copy of this Resolution to the applicant, and to the other taxing districts affected hereby, within ten days from the date hereof, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 2000. The foregoing Resolution adopted the 28th day of June, 1999. 11- #1t7 City Recorder