Item C: Multi Unit Property Tax Exemption Program

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1.6 Preserve existing publicly-assisted housing that is affordable to low- income persons by providing the incentives authorized in ORS 307.690 to 307.691 to existing multiple-unit housing subject to a low-income housing assistance contract with an agency or subdivision of this state or the United States. 2. The program shall emphasize: 2.1 The development of multiple-unit housing, with or without parking, in structures that may include ground-level commercial space; 2.2 The development of multiple-unit housing, with or without parking, on sites with existing single-story commercial structures; and 2.3 The development of multiple-unit housing, with or without parking, on existing surface parking lots. 3. The program shall result in the preservation, construction, addition or conversion of units at rental rates or sale prices accessible to a broad range of the general public. R-2.945-C Eligible Structures. To be eligible for local property tax exemption hereunder, a structure must: 1. Be multiple-unit housing as defined above, which: 1.1 In the case of the construction, addition, or conversion of multiple-unit housing, the construction, addition, or conversion must be completed on or before January 1, 2006, 1.2 In the case of housing subject to a low-income housing assistance contract with an agency or subdivision of this state or the United States, the application for exemption was made on or before January 1, 2012; 2. Be located within the core area; and 3. Meet the approval criteria set forth in these Standards and Guidelines. R-2.945-D Application for Exemption for Housing Subject to a Low-Income Housing Assistance Contract . 1. On or before February 1 immediately preceding the first assessment year for which exemption is requested, the applicant shall submit to the City Manager, on a form provided by the City, an application for exemption, containing the following information: 1.1 The applicant's name, address, and telephone number; 1.2 A legal description of the property or the assessor's property account number for the site;