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RESOLUTION NO. 4938 A RESOLUTION DENYING A MULTIPLE-UNIT PROPERTY TAX EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 693 EAST 16TH AVENUE, EUGENE, OREGON (COREY DEVELOPTMENT, LLC). The City Council of the City of Eugene finds that: A. Our Property Holdings One, LLC, is the owner of real property located at 693 East 16th Avenue, Eugene, Oregon, 97401, more particularly described on the attached Exhibit A. On April 18, 2007, the City of Eugene received an application submitted by Corey Development, LLC pursuant to the City's Multiple-Unit Property Tax Exemption Program (Sections 2.945 and 2.947 of the Eugene Code, 1971) with respect to residential units to be constructed on the property. B. On June 25, 2007, the City Council denied applicant's request for the property tax exemption. C. On January 7, 2008, David Corey submitted a revised application for Corey Development, LLC and requested that the Council reconsider its June 25, 2007 decision based on the redesigned project. The revised application proposes a smaller apartment complex than the complex proposed in the original application, and includes an updated income analysis for the property illustrating that construction of this project is not viable without the property tax exemption. D. A display ad soliciting recommendations or comments from the public was published in the Register-Guard on February 25, 2008, and advised that written comments would be accepted for a period of 30 days from the date of publication. Recommendations or comments were also solicited from the Planning Commission, and other interested City departments, agencies, and neighborhood groups. No comments were received in response to the ad. E. The Report and Recommendation attached as Exhibit B recommends that the application be approved and the exemption granted. In making the recommendation, the Director found that the applicant submitted all materials, documents and fees required by the application and the City as set forth in Section 2.945 of the Eugene Code, 1971, and is in compliance with the policies set forth in the Standards and Guidelines adopted by Administrative Order No. 53-04-03-F. F. The project consists of the development of two residential one-bedroom units, and five residential two-bedroom units, which are not designed for, nor will be used as, transient accommodations. Resolution - Page 1 08 Corey-Hilyard Reapp. MUPTE Denial Resol. (00196363)