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RESOLUTION NO. 4852 A RESOLUTION APPROVING A LOWqNCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR THE PROPERTY LOCATED AT 265 WEST 8a't~ AVENUE, EUGENE, OREGON (ASSESSOR'S NUMBER 17103-31q2 TAX LOTS 13700, 14100, 14200). (METROPOLITAN AFFORDABLE HOUSING The City Council of the City of Eugene finds that: A. The Metropolitan Affordable Housing Corp. (1430 Pearl Street, Ste B, Eugene, Oregon 97401) has "site control" of the real property located at 265 West 8th Avenue, Eugene, Oregon (Tax Lots 17-03-31-12- 13700, 14100, 14200), and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, and has submitted an application pursuant to Subsection 2.939(2) of the Eugene Code, 1971 for an exemption from ad valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, 1971). The Director of the Planning and Development Department (AIC), as designee of the City Manager has submitted a Report and Recommendation to the Council that the application be approved and the exemption granted. In making that recommendation, the Director found that the applicant submitted all mater/als, documents and fees required by the application and the City, including, if applicable: documentation that the housing units on the property were or will be constructed after February 12, 1990, documentation that the required rent pay~-~ent will reflect the full value of the property tax exemption; documentation that the portion of the property for which the exemption is sought will be offered for rental solely as a residence for low-income persons; that the applicant is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4623 of the City Council, applicable local, plans, planning regulations, and the Metro Plan; and 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 is otherwise in compliance with the cr/ter~a for approval as set fbrth in Subsection 2.939(2) of the Eugene Code, 1971; all as set forth in the Director's Report and Recommendation. The project consists of the development of 102 low-income rental housing units (31 studios, 54 one-bedroom, and 17 two-bedroom units), common space serving those units (for 'which the exemption is sought), and eight market rate live/work spaces and one commercial space, (which will not be subject to the exemption). NOW~ THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Munic~pall Corporation of the State of Oregon, as follows: Resolution