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Property Tax Exemption for New Multi-Unit Housing Application Coversheet r r The Multi-Unit Property Tax Exemption (MUPTE) is an incentive program to encourage downtown housing. This ten-year exemption is enabled by state law, but each project must be approved by the Eugene City Council. Both rental housing and multi-unit housing for home ownership are eligible. Projects must be within an area generally bounded by 4th Avenue, Patterson, 17th, and Lawrence Street. GENERAL INFORMATION Applicant(s) Business Name: ~,~[ ~" Address: Phone# (o~"'/' J~'~ J~'e-,~c~"'Ft~a~, E-mail: Representative: ~~ ~ Address (if different): Phone ~ Fax ~ E-mail: .ro.ose .rojec,.ame: Location: J~ ~ ~[t ELIGIBILITY AND QUALIFICATION cRITERIA Eligible Prope~. To be eligible for the prope~y tax exemption, a structure must be: 1. a multiple unit structure~'having five or more dwelling units, not designed or used as transient accommodations and not including hotels and motels; 2. housing completed on or before Janua~ 1, 2006. * This includes new multiple-unit housing on vacant sites, the conversion of buildings into new units on under-utilized sites and housing which increases densities consistent with the applicable Comprehensive Plan and zoning designations, as well as relevant plan goals and policies; and 3. located within the boundaries illustrated on the affached map of eligible areas. Term of Exemption. This program provides for a ten-year exemption for all residential improvements. The land and non-residential improvements continue to be taxed. * This date is currently written in the State Statutes. The 2005 Legislature will consider extending the program. The City is abl to offer a one year extension to January f, 2007.