Resolution No. 4999 - Laserfiche WebLink

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RESOLUTION NO. 4999 A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR THE PROPERTY LOCATED AT 2984, 2986, AND 2988 OAK STREET, EUGENE, OREGON. (SHELTERCARE / APPLICANT.) The City Council of the City of Eugene finds that: A. ShelterCare (the applicant), located at P.O. Box 23338, Eugene, Oregon, 97402, is purchasing real property located at 2984, 2986, 2988 Oak Street and 2985 Willamette Street Eugene, Oregon, 97402 (Assessor’s Map/Tax Lot No. 18-03-07-11-06600; Assessor’s Property Account Number 0631976), and has submitted an application pursuant to Subsection 2.939(3) 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). B. The tax exemption is being sought for 35 one-bedroom units currently existing on the properties located at 2984, 2986, and 2988 Oak Street at rents affordable to 60% of area median income. The structure located at 2985 Willamette Street will be demolished and, therefore, that property is not subject to the tax exemption. C. The Report and Recommendation of the Executive Director of the Planning and Development Department (“the Executive Director”), as designee of the City Manager, attached as Exhibit A to this Resolution, recommends that the application be approved and the exemption granted. In making that recommendation, the Executive Director found that the applicant submitted all materials, documents and fees required by the application and Section 2.938(1) of the Eugene Code, 1971, and is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4623. In addition, as described more fully in Exhibit A, the applicant has complied with the criteria for approval provided in Section 2.939(3) of the Eugene Code, 1971. 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 1. Based upon the above findings, and the findings in the Executive Director’s Report and Recommendation attached as Exhibit A, the City Council approves the application of ShelterCare for an ad valorem property tax exemption under the City's Low-Income Rental Housing Property Tax Exemption Program for the properties located at 2984, 2986, and 2988 Oak Street Eugene, Oregon, 97402 (Assessor’s Map/Tax Lot No. 18-03-07-11-06600; Assessor’s Property Account Number 0631976), for 35 one-bedroom units at rents affordable to 60% of area median income. Resolution - Page 1 of 2