Resolution No. 4486 - Laserfiche WebLink

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Guard Publishing Company for a property tax exemption under the City's Multiple-Unit Rental Housing Property Tax Exemption Program for the residential portion of the improvements to be constructed upon the property located at 10th Avenue and High Street, Eugene, Oregon, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, be, and the same is hereby approved, subject to the following conditions: 1. The project shall be completed before July 1, 1998. 2. The project shall consist of 58 total residential rental units. 3. The project shall contain public benefits that include, but are not limited to: three spacious ground floor apartments that shall be handicap accessible, with all units designed as handicap adaptable; all units will be priced competitively with conventional suburban garden style units, adding a diverse group of residents to strengthen support for existing downtown businesses and services; the project shall be set back from the street approximately forty feet to insure the protection of large heritage trees on the property; public benches will be installed and maintained near the front of the building and close to the High Street bus stop; an exercise facility will be provided for tenants in the basement of the building; and the project shall include architecturally designed landscaping. The applicant shall pay the low income housing fee, which during years three through ten of the exemption period, will generate $6,360 annually for the City's low income housing fund. Section 2. That the rental housing improvements to be constructed upon the property described in Section 1 above are hereby declared exempt from local property taxation commencing July 1 of the year following certification of completion and continuing for a continuous period of 10 years unless earlier terminated in accordance with the provisions of Section 2.947 of the Eugene Code, 1971. The exemption provided for herein does not extend to the portion of the improvements designed and utilized for retail/commercial business. 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, 1997. The foregoing Resolution adopted thel31b day of May, 1996. fl:~ ~Ily City R~order Resolution - 2