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<br /> <br />ECC <br />UGENE ITY OUNCIL <br />AIS <br />GENDA TEM UMMARY <br /> <br /> <br />Action: Adoption of an Ordinance Concerning Low-Income Housing Property Tax <br />Exemptions and Amending Sections 2.916, 2.920, 2.938, 2.939and 2.940 of the <br />Eugene Code, 1971 <br /> <br />Action: Adoption of Resolution 5028 Adopting Amended Standards and Guidelines for <br /> <br />Processing Low-Income Rental Housing Property Tax Exemption Applications <br /> <br />Meeting Date: April 13, 2011 Agenda Item Number: A <br />Department: Planning and Development Staff Contact: Becky L. Wheeler <br />www.eugene-or.gov Contact Telephone Number: 541-682-5532 <br /> <br /> <br /> <br />ISSUE STATEMENT <br /> <br />Ordinance - The City Council is scheduled to take action on this request to amend the Eugene Code <br />extending the sunset date for the low-income housing property tax exemption program and the 20-year <br />low-income rental housing property tax exemption program. The proposed ordinance would extend the <br />sunset date by 10 years for each program. In addition, the proposed ordinance would enable recipients to <br />reapply for the 20-year low-income rental housing property tax exemption after the initial 20-year period <br />has expired. <br /> <br />Resolution – Provided the above reference ordinance is adopted, the City Council is scheduled to consider <br />a resolution adopting amended Standards and Guidelines for processing 20-year low-income rental <br />housing property tax exemption applications. <br /> <br /> <br />BACKGROUND <br /> <br />Ordinance - The City Council held the required public hearing on this item April 11, 2011. <br /> <br />Both the low-income housing property tax exemption and the 20-year low-income rental housing property <br />tax exemption are enabled by state statute. The low-income housing property tax exemption provides an <br />annual exemption for properties that are used for the purposes of a nonprofit corporation. This housing is <br />not required to be rental housing. The 20-year low-income rental housing property tax exemption <br />provides a 20-year exemption for properties offered for rent or held for the purpose of developing low- <br />income rental housing. Applicants requesting a 20-year exemption are not required to be a nonprofit in <br />certain instances. <br /> <br />In 1992, the City Council adopted both programs to facilitate the development of affordable housing for <br />low-income persons. In compliance with provisions enacted by the Oregon Legislature, the City Council <br />adopted Sections 2.910 to 2.922 and Sections 2.937 to 2.940 of the Eugene Code, 1971, which provides <br />procedures for granting exemptions from ad valorem taxes on low-income housing and low-income rental <br />housing developed by non-profits. <br />\\Cesrv500\cc support\CMO\2011 Council Agendas\M110413\S110413A.doc <br /> <br />