Resolution No. 5025 - Laserfiche WebLink

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Section 1 . Based upon the above findings, the City Council amends Resolution No. 4999 to provide that the land and residential units (35 one - bedroom units at rents affordable to 60% of area median income) located at 2984, 2985, and 2988 Oak Street, Eugene, Oregon, 97402 (Assessor's Map /Tax Lot No. 18- 03- 07 -11- 05500; Assessor's Property Account Number 0631976), are declared exempt from local ad valorem property taxation under the City's Low - Income Rental Housing Property Tax Exemption Program commencing July 1, 2011. The exemption shall be for a continuous period of twenty (20) years unless earlier terminated in accordance with the provisions of Section 2.940 of the Eugene Code, 1971. That section provides for termination after an opportunity to be heard if: 1.1 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 1.2 The applicant fails to comply with provisions of ORS 307.515 to 307.523, provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council Resolution No. 4623, or any conditions imposed in this Resolution. The tax exemption shall be terminated immediately, without right of notice or appeal, pursuant to the provisions of ORS 307.531 in the event that 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 2. The City Manager, or the Manager's designee, is requested to forward a copy of this Resolution to the applicant within ten days from the date of adoption of this Resolution, and to cause a copy of this Resolution and Resolution No. 4999 to be filed with the Lane County Assessor on or before April 1, 201.1. The copy of the Resolution sent to the applicant shall be accompanied by a notice explaining the grounds for possible termination of the exemption prior to. the end of the exemption period and the effects of the termination. Section 3. The City Manager is directed to cause a copy of this Resolution to be appended to Resolution No. 4999. Section 4. This Resolution shall become effective immediafely upon its adoption. The foregoing Resolution adopted the 28 day of February, 20116 Deput Cit Recori 11 Resolution - Page 2 of 2