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2.4 There are no structures located on the property. Currently, the site is <br /> paved and is being used as a parking lot; and <br /> <br /> 2.5 The owner has stated in the application and provided evidence that the <br /> project would not be feasible without the tax exemption. Several of the binding sales <br /> agreements are contingent on receiving the tax exemption. <br /> <br /> 3. A display ad soliciting recommendations or comments from the public regarding <br />this project was published in the Register-Guard on October 14, 2004. The period for comment <br />expired on November 13, 2004. The following written comment was received: <br /> <br /> Comment: An e-mail was received from Bruce Cooley who commented that <br /> incentives to build housing in Eugene, especially in the University area, are not necessary <br /> because developers can already command high rent in Eugene. He felt that the projects <br /> would be built even without the tax exemption. He also commented that he rebuilt a <br /> multi-unit property in the University area that had nine bedrooms and five bathrooms, <br /> and didn't get a tax exemption <br /> <br /> Findine: Adopted City policies encourage compact urban growth and downtown <br /> area housing. Because it is significantly more expensive to build multi-family housing in <br /> the core area, incentives are needed to help level the playing field. The tax exemption is <br /> only granted if there is evidence that the project would not otherwise be built. <br /> Furthermore, it is only available to the new construction of housing developments of at <br /> least five units. The rehabilitation project that Mr. Cooley refers to is not new <br /> construction and would not qualify. The project proposed for 1375 Olive is not a rental <br /> project but a condominium development which will add owner occupants to the <br /> neighborhood. <br /> <br /> Therefore, based upon the above findings, the project is in conformance with all <br />applicable local plans, planning regulations, the Metropolitan Area General Plan, and the criteria <br />set forth in the City's adopted Standards and Guidelines for Multiple-Unit Housing Property Tax <br />Exemption, and I recommend that the application be approved. <br /> ~ ,2004. _ <br /> Datedthis /~'~'day°f ~~ ( ~ <br /> c~tor, Planning ~ D~ent - <br /> Department, City of Eugene <br /> <br /> Exhibit B -- Report and Recommendation - Page 3 <br /> C ~Documents and Sett~ngs\ceecrdw\Local Settings\Temporary Intemet Ffles\OLK3E\04 MUPTE The Tate Resolution - Ex B (00098058) DOC <br /> <br /> <br />