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RESOLUTION No, 5045 <br />A RESOLUTION EXTENDING THE COMPLETION DATE FOR <br />CONSTRUCTION OF RESIDENTIAL UNITS GRANTED A MULTIPLE -UNIT <br />PROPERTY TAX EXEMPTION UNDER RESOLUTION NO. 5032. (Paradigm on <br />Pearl Project; Pearl Street Sustainable Housing LLCIApplicant). <br />The City Council of the City of Eugene finds that: <br />A. Pearl Street Sustainable Housing LLC is the owner of real property located at 1647 <br />through 1689 Pearl Street and 231 through 235 East 17 Avenue, Eugene, Oregon and had submitted an <br />application pursuant to the City's Multiple -Unit Property Tax Exemption Program (Sections 2.945 and <br />2.947 'of the Eugene Code, 1971), with respect to residential units to be constructed on the property. <br />B. On May 9, 2011, the City Council adopted Resolution No. 5032 approving a multiple - <br />unit property tax exemption for the construction of residential units on the property. That Resolution <br />required that construction be completed on or before January 1, 2012, and provided that no extension <br />was to be expected if the project was not completed by the deadline. <br />C. Subsection (5) of Section 2.947 of the Eugene Code, 1971 authorizes the Council to <br />extend the deadline for completion of construction of multiple -unit housing for an additional 12 <br />consecutive months if it finds that the failure to complete construction by the time specified in the <br />resolution approving the tax exemption was due to circumstances beyond the control of the owner, and <br />that the owner had been acting in good faith and with due diligence. <br />D. The property owner advises that circumstances beyond its control have resulted in <br />construction delays and that completing construction by the January 2, 2012 deadline would require <br />workers to work up to 60 hours per week. Therefore, the property owner has requested an extension of <br />time until April 30, 2012, to complete construction of the residential units. An extension of the <br />construction completion deadline will allow workers to work a normal 40 hour work week, which will <br />result in labor cost savings. Those savings will be used to make additional improvements to the building <br />that were not included in the original plan. <br />E. The Council finds that the property owner has been acting in good faith and with due <br />diligence, and the inability to meet the January 1, 2012 construction deadline is due to circumstances <br />beyond its control. <br />Now, THEREFORE, <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal <br />Corporation of the State of Oregon, as follows: <br />