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1.1 211 low-income rental housing units (121 studios, 30 alcoves and 60 one - <br />bedroom units), and the common spaces serving those units which shall be used for the <br />purpose of providing low-income rental house. <br />1.2 The portion of the property consisting of 11 market rate units is not subject <br />to the exemption. <br />Section 2. The land and units described in Section 1.1 above are declared exempt from <br />local ad valorem property taxation commencing July 1, 2019, and continuing for a continuous <br />period of 20 years unless earlier terminated in accordance with the provisions of Section 2.940 of <br />the Eugene Code, 1971, which provides for termination after an opportunity to be heard if. <br />2.1 Construction or development of the exempt property differs from the construction <br />or development described in the application for exemption, or was not completed by <br />January 1, 2020, and no extensions or exceptions were granted; or <br />2.2 The applicant fails to comply with provisions of ORS 307.515 to 307.523, <br />provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council <br />Resolution No. 5028, or any conditions imposed in this Resolution. <br />The tax exemption shall be terminated immediately, without right of notice or appeal, pursuant to <br />the provisions of ORS 307.531 in the event that the county assessor determines that a change of <br />use to other than that allowed has occurred for the housing unit, or portion thereof, or, if after the <br />date of this approval, a declaration as defined in ORS 100.005 is presented to the county assessor <br />or tax collector for approval under ORS 100.110. <br />Section 3. The City Manager, or the Manager's designee, is requested to forward a copy <br />of this Resolution to the applicant within 10 days from the date of adoption of this Resolution, and <br />to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, <br />2019. The copy of the Resolution sent to the applicant shall be accompanied by a notice explaining <br />the grounds for possible termination of the exemption prior to the end of the exemption period and <br />the effects of the termination. <br />Section 4. This Resolution shall become effective immediately upon its adoption. <br />The foregoing Resolution adopted the 23rd day of July, 2018. <br />&. h 1.,, .t <br />City Recorder <br />Resolution - Page 2 of 2 <br />