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ORDINANCE NO. 20424 AN ORDINANCE CONCERNING MULTIPLE-UNIT HOUSING PROPERTY TAX EXEMPTION AND AMENDING SECTIONS 2.945 AND 2.947 OF THE EUGENE CODE, 1971. THE CITY OF EUGENE DOES ORDAIN AS FOllOWS: Section 1. Sections 2.945 and 2.947 of the Eugene Code, 1971, are amended to provide as follows: 2.945 Multiole-Unit Housina - Prooertv Tax Exemotion. (1) The provisions of ORS 307.600 to 307.637 enable cities to grant local property tax exemptions for multiple-unit housing located in core and transit oriented areas designated by the city. There is a need and demand for better housing at rental rates or sale prices accessible to a broad range of the general public in the core and transit oriented areas which is not likely to be produced without this incentive. This incentive is intended to: (a) Stimulate the construction of transit supportive multiple-unit housing in the city's core and transit oriented areas to improve the balance between the residential and commercial nature of those areas, and to ensure full-time use of the areas as places where citizens of the community have an opportunity to live as well as work; (b) Encourage the development of vacant or under utilized sites in core and transit oriented areas, rather than sites where sound or rehabilitable multiple-unit housing exists; (c) Encourage the development of multiple-unit housing, with or without parking, in structures that may include ground level commercial space; (d) Encourage the development of multiple-unit housing, with or without parking, on sites with existing single-story commercial structures; (e) Encourage the development of multiple-unit housing, with or without parking, on existing surface parking lots; and (f) Preserve existing publicly assisted housing that is affordable to low income persons by providing the incentives authorized in ORS 307.600 to 307.637 to existing multiple-unit housing that is subject to a low income housing assistance contract with an agency or subdivision of this state or the United States. (2) In order to provide the incentives described in subsection (1) of this section, the provisions of ORS 307.600 to 307.637 are hereby adopted Ordinance -Page 1 of 7