Resolution No. 4938 - Laserfiche WebLink

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REPORT AND RECOMMENDATION of the Director of the Planning & Development Department Corey Development, LLC Multiple-Unit Property Tax Exemption The Director of the Planning & Development Department of the City of Eugene finds that: 1. 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. 2. On June 25, 2007, the City Council denied applicant's request for the property tax exemption. 3. 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. 4. I have reviewed the application and specifically find that the project to be constructed will result in an eligible structure for the property tax exemption as defined in the Standards and Guidelines, will be located within the downtown core area, the construction will be completed on or before January 1, 2012, and: 4.1 the City; The applicant has submitted all materials, documents and fees required by 4.2 Design elements that benefit the general public have been included in the project. The design elements consist of: 4.2.1 Sustainability features. Sustainability features of this project include: · Recycling of building materials from demolition of the buildings currently on the site, as well as job site waste from the new project. · Infill density is maximized to extent allowed, while maintaining neighborhood character. .Project located close to downtown, university, bike paths, and mass transit, minimizing the necessity to use automobiles. Exhibit B to Resolution No. 4938 -- Report and Recommendation - Page 1 4938 Ex. B (00196646)