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EUGENE CITY COUNCIL <br />AGENDA ITEM SUMMARY <br /> <br /> Action: Applications for Three Low-Income Housing Tax Exemptions <br /> Resolution 4803 Approving a Low-Income Rental Housing Property Tax Exemption for <br /> Property Located at 2640-2694 Edgewood Drive, Eugene, Oregon (TL 17-04-12-33- <br /> 0600). (Metropolitan Affordable Housing Corporation - Green Leaf Village <br /> Development); <br /> Resolution 4804 Approving a Low-Income Rental Housing Property Tax Exemption for <br /> a Portion of the Property Located at 150 Santa Clara Avenue (TL 17-04-11-43-00800). <br /> (St. Vincent de Paul Society of Lane County); and <br /> Resolution 4805 Denying Approval of a Low-Income Rental Housing Property Tax <br /> Exemption for Property Located at March Chase Drive and Kinsrow, Eugene, Oregon <br /> (17-03-28-40-1406). (Public Private Partnerships Inc.) <br /> <br />Meeting Date: August 9, 2004 Agenda Item Number: 4 <br />Department: Planning and Development Staff Contact: Richie Weinman <br />www. cl. eugene, or. us Contact Telephone Number: 682-5533 <br /> <br />AGENDA ITEM SUMMARY <br />City Council is asked to consider three resolutions related to low-income housing tax exemptions. Each <br />resolution grants a twenty-year property tax exemption for a particular very-low-income housing <br />project. <br /> <br />BACKGROUND <br /> <br />Council Action History <br />The council has a history of supporting low-income housing tax exemptions and has approved virtually <br />every request to date from either non-profit or for-profit developers. <br /> <br />Policy Issues <br />Since 1987, one of the City Council's annual goals has related to increasing the availability of low- <br />income housing. A recent City Council goal of"Sustainable Community Development" refers to <br />retaining a high quality of life. A prerequisite is affordable housing. For low-income households, this <br />often requires subsidies. Support for low-income housing also is found in the City's Growth <br />Management Goals and the adopted Housing and Urban Development (HUD) Consolidated Plan. This <br />support recognizes the relationship between housing affordability and the community's economic <br />vitality and social well-being. <br /> <br />A key element in creating affordable housing is an exemption from property taxes. The twenty-year <br />low-income housing tax exemption is available, in part, due to the City of Eugene's lobbying effort at <br /> L:\CMO\2004 Council Agendas\M040809\S0408094.doc <br /> <br /> <br />