Resolution No. 5086 - Laserfiche WebLink

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The City Council of the City of Eugene finds that: A. Venator Investments LLC (P.O. Box 1202, Clatskanie, Oregon) is the owner of real property located at 505 East Broadway, Eugene, Oregon (Assessor's Map Number 1.7 -03- 32-23, Tax Lots 1 800 and 2300) and John and Gretchen Cetaras Revocable Trust (P.O. Box 68, Rumsey, California) is the owner of real property located at 505 East Broadway, Eugene, Oregon (Assessor's Map Number 17- 03- 32 -23, Tax Lot 1900) ( "the property "). B. CORE Campus (2234 West North Avenue, Chicago, Illinois) has submitted an application pursuant to the City's Multiple -Unit Property Tax Exemption Program (Sections 2.945 and 2.947 of the Eugene Code, 1971), with respect to residential units and commercial space to be constructed on the property. C. The project as proposed consists of the development of 19 studio units, 46 one - bedroom units, 44 two - bedroom units, 25 three - bedroom units, 42 four - bedroom units, and 21 five- bedroom units, for a total of 197 residential units. In addition, the project will, include approximately 4,430 square feet of commercial space. D. The project is located within the boundaries of the downtown area as described in subsection (2) of Section 2.945 of the Eugene Code, 1971. E. The project could not financially be built "but for" the tax exemption. F. The applicant solicited comments from city - recognized affected neighborhood association. G. The requirements in the Standards and Guidelines for Multiple -Unit Housing Property Tax Exemptions adopted by Administrative Order No. 53- 12 -01 -F related to proximity to historic resources have been satisfied. H. The applicant has complied with the provisions of the Standards and Guidelines as described in the Report and Recommendation attached as Exhibit A to this Resolution, which was prepared by the Executive Director of the Planning and Development Department ( "the Executive Director ") as designee of the City Manager. Resolution - Page 1 of 4