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RESOLUTION NO. 4702 A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR A PORTION OF THE PROPERTY LOCATED AT110, 128, 130, 136, AND 146 EAST 11TH AVENUE, EUGENE, OREGON (TAX LOTS 17- 03-31-41-10200 AND 17-03-31-41-10300). (ST. VINCENT de PAUL SOCIETY OF LANE COUNTY - AURORA BUILDING). The City Council of the City of Eugene finds that: A. The St. Vincent de Paul Society of Lane County is the owner of real property located at 110,128,130, 136, and 146 East 11th Avenue, Eugene, Oregon, (Tax Lots 17-03-31- 41-10200 and 17-03-31-41-10300) and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, and has submitted an application pursuant to Subsection 2.939(2) of the Eugene Code, 1971 for an exemption from ad valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, 1971) for 88.4% of the building (53,997 square feet) which will be used for low-income housing, with the remaining 11.6% (7,026 square feet) being used for non-housing purposes. B. The Director of the Planning and Development Department, as designee of the City Manager has submitted a Report and Recommendation to the Council that the application be approved and the exemption granted. In making that recommendation, the Director found that the applicant submitted all materials, documents and fees required by the application and the City, including, if applicable: documentation that the housing units on the property were or will be constructed after February 12, 1990, documentation that the required rent payment will reflect the full value of the property tax exemption; documentation that the property is being held for development of housing for low-income persons; that the applicant is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4623 of the City Council, applicable local plans, planning regulations, and the Metro Plan; and has executed the required Consent to Inspection of Premises and the Rent Regulatory Agreement, which agreement contains a provision requiring certification of income levels of low-income occupants; and is otherwise in compliance with the criteria for approval as set forth in Subsection 2.939(2) of the Eugene Code, 1971; all as set forth in the Director's Report and Recommendation. C. The project consists of the development of fifty-four low-income rental housing units (11 studio, 35 one-bedroom, and 8 two-bedroom units). 88.4% (53,997 square feet) of the building will be used for the purpose of providing low-income rental housing, and the remaining 11.6% (7,026 square feet) will be used for non-housing uses. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Based upon the above findings, which are adopted herein, and the City Council's review of the Report and Recommendation of the Director of the Planning and Development Department, the City Council hereby approves the application of St. Vincent de Paul Society of Lane County for an ad valorem property tax exemption under the City's Low- Resolution - 1