Resolution No. 5034 - Laserfiche WebLink

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area and bike storage). The units shall be offered for rent to those whose income falls at or below 60% of the Area Median Income as determined by the State Housing Council. Section 2 . The land and units described in Section 1 above are declared exempt from local ad valorem property taxation commencing July 1, 2012, and continuing 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, 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, 2020, and no extensions or exceptions were granted; or 2.2 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. 5028, 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 1 00.005 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 within ten (10) days from the date of adoption of this Resolution, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 2012. 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 4 . This Resolution shall become effective immediately upon its adoption. The foregoing Resolution adopted the 27th day of June, 2011. Deput Cit R :17 Resolution Page 2 of 2