Item 2C - Ext. Patterson MUPTE - Laserfiche WebLink

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ownership. During that time, it was not on the tax rolls; therefore, there is no loss of revenue. New revenue will immediately occur because the land will be taxed during the exemption period. The improvements will bring substantial revenue after ten years. Timing These extensions are critical if this project is to proceed. The applicant's proposed financing is contingent on the exemption for the viability of the proposal. RELATED CITY POLICIES MUPTE is enabled by State statute. The City of Eugene has participated in the MUPTE program since 1978. Since that time, eleven requests have been approved. Encouraging housing in the core area is consistent with numerous adopted planning documents. Examples include: The Downtown Plan Policy V. 1 Stimulate multi-unit housing in the downtown core and on the edges of downtown for a variety of income levels and ownership housing. Growth Management Policies Policy 1 Support the existing Eugene Urban Growth Boundary by taking actions to increase density and use on existing vacant land and under-used land within the boundary more efficiently. Policy 2 Encourage in-fill, mixed-use, redevelopment, and higher density development. Policy 3 Encourage a mix of business and residential uses downtown using incentives and zoning. Jefferson/Far West Refinement Plan Residential 2.0 Increase the opportunity for home ownership within the area Residential 3.0 Encourage a mixture of housing densities and types to allow a diverse population group to live within the area. COUNCIL OPTIONS Council may approve or deny the extension. CITY MANAGER'S RECOMMENDATION The City Manager recommends approving the resolution to grant the extension. SUGGESTED MOTION Move to adopt Resolution 4824 extending the completion date for construction of residential units granted a Multiple-Unit Property Tax Exemption under Resolution No. 4816 (Arthur C. Carmichael, Jr. and Larry Von Klein). L:\CMO\2005 Council Agendas\M050214\S0502142C.doc