Resolution No. 4853 - Laserfiche WebLink

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Housing Property Tax Exemption Program for the property located at 4103 West 18th Avenue, Eugene, Oregon (Assessor's Number 0718914), as more particularly described on Exhibit '~A" attached hereto and incorporated herein by reference, subject to the following condition: Upon completion of construction, the project shall consist of 232 low-income rental housing units (6 studios, 180 one-bedroom, and 46 two-bedroom units) which shall be used for the purpose of providing low-income rental housing. . That the land and the improvements constructed thereon, are hereby declared exempt from local ad valorem property taxation commencing July 1, 2006 and continuing fbr a continuous period of twenty (20) years unless earlier terminated in accordance with the provisions of Section 2.940 of the Eugene Code, 1971, which provides for termination after an opportunity to be heard if: 2.1 Construction or development of the exempt property differs from the construction or development described in the application for exemption, or was not completed by January 1, 2010, and no extensions or exceptions were granted; or 2.2 The property owner fails to comply with provisions of ORS 307.515 to 30T523, provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council Resolution No. 4623, or any conditions imposed in this Resolution; and immediate termination, without fight of notice or appeal, pursuant to the provisions of ORS 307.531 in the event: 2~3 The exempt property is being held for future development of low income rental housing and it is used for any purpose other than the provision of low income rental housing; or 2.4 The county assessor determines that a change of use to other than that allowed has occurred for the housing unit, or portion thereof~ or, if after the date of this approval, a declaration as defined in ORS 100.005 is presented to the county assessor or tax collector for approval under ORS 100.110. 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, 2006. Section 4. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution adopted and effective the 8~h day of August, 2005. City Recorder Resolution - 2