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<br />8 vouchers and will pay no more than 30% of their monthly <br />income in rent; 3 units will be available for veterans <br />eligible for VA Grant Per Diem payments and no rent will <br />be charged for these units; 5 units will be rented at $230 per <br />month). <br /> <br /> 3.3A certification of the income levels of <br />low-income occupants is attached to the application. <br /> <br /> 3.4The tax exemption will benefit project <br />occupants in that the rents proposed for this project will <br />range from 30% of participant income to $230 per month. <br />This is a rent affordable to persons at or below 35% median <br />income. The effective annual operating income for the <br />project is $3,400 per year. With property taxes, the project <br />would have an operating deficiency of approximately <br />$3,000 per year. <br /> <br /> 3.5 and 3.6The property will be occupied solely <br />as a residence for low-income persons as evidenced by a <br />statement of SVDP’s Executive Director attached to the <br />application. <br /> <br /> 3.7The application is not for an exemption <br />described in subsection 2.10 of the Standards and <br />Guidelines for Low-Income Rental Housing Property Tax <br />Exemption. <br /> <br /> 3.8The property is not being held for the future <br />development of low income rental housing. <br /> <br />5.1 SVDP has agreed to execute and maintain in <br />effect for the duration of the tax exemption period, Rent <br />Regulatory Agreement. <br /> <br />5.2The owner has consented in writing that for <br />the duration of the tax exemption period, the city may <br />inspect the property for which the exemption is granted. <br />(f) The proposed development is consistent with the city's <br />housing dispersal policy. <br />(g) The proposed development will cause displacement of low- <br />income persons, however, a relocation plan is in place. All HUD notices <br />have been given and relocation costs are being provided by the City <br />contracted Relocation Specialist. All effected tenants will be provided <br />better and more affordable housing. <br />(h) The proposed development does not cause destruction of <br />historic properties (as defined in section 9.202 of this code). <br />(i) The proposed development is otherwise consistent with the <br />Eugene Code, 1971, and adopted city regulations and policies. <br /> <br />Therefore, <br /> based on the above findings, the proposed project conforms with all <br />applicable City Code provisions, local plans, planning regulations, the Metropolitan Area <br />General Plan, and the criteria set forth in the City’s adopted Standards and Guidelines for <br />Low-Income Rental Housing Property Tax Exemption, and I recommend that the <br />application be approved. <br />EXHIBIT A to Resolution No. _____ -- Report and Recommendation - 2 <br />C:\Documents and Settings\CunningC\Local Settings\Temp\advfmtmp\~iScrubGWtmpFiles.tmp\07 svdp-vet lift lirpte report and <br />recommendation phase ii (00181715).doc <br /> <br />