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RESOLUTION NO. 4853 A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR THE PROPERTY LOCATED AT 4103 WEST 18T~ AVENUE, EUGENE, OREGON (ASSESSOR'S NUMBER 0718914) (REDV~7OOD PARTNERS, LLC.). The City Council of the City of Eugene finds that: A. The Redwood Partners, LLC (550 Kirkland Way, Suite 405, Kirktand, WA 98033) is the owner of the real property located at 4103 West 18th Avenue, Eugene, Oregon (Assessor's Number 0718914), 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 materials, 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 pa3ment will reflect the full value of the property tax exemption; documentation that the property 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, planrfing 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 criteria for approval as set forth 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 rehabilitation of the existing 216 units and construction of an additional 16 units, resulting in a total of 232 low-income rental housing units (6 studios, 180 one-bedroom, and 46 two-bedroom units). 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._~.? 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 (AIC), the City Council hereby approves the application of Redwood Partners, LLC for an ad valorem property tax exemption under the City's Low-income Rental Resolution- 1