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ATTACHMENT A <br /> <br /> RESOLUTION NO. <br /> <br /> A RESOLUTION EXTENDING THE COMPLETION DATE FOR <br /> CONSTRUCTION OF RESIDENTIAL UNITS GRANTED A MULTIPLE- <br /> UNIT PROPERTY TAX EXEMPTION UNDER RESOLUTION NO. 4815. <br /> (1375 OLIVE, LLC). <br /> <br /> The City Council of the City of Eugene finds that: <br /> <br /> A. On November 22, 2004, the City Council adopted Resolution No. 4815 approving <br />a multiple-unit property tax exemption for the construction of residential units at 1375 Olive <br />Street, Eugene, Oregon. That Resolution required construction to be completed by January 1, <br />2006. <br /> <br /> B. Subsection (5) of Section 2.947 of the Eugene Code, 1971 authorizes the Council <br />to extend the deadline for completion of construction of multiple-unit housing for an additional <br />12 consecutive months if it finds that the failure to complete construction by the time specified in <br />the resolution approving the tax exemption was due to circumstances beyond the control of the <br />owner, and that the owner had been acting in good faith and with due diligence. <br /> <br /> C. Although the property owner, 1375 Olive, LLC, expects to begin construction in <br />February of 2005, it has advised that it is not likely that construction of the residential units can <br />be completed by January 1, 2006, and has requested an extension to January 1, 2007. The <br />Council finds that the property owner has been acting in good faith and with due diligence, and <br />the inability to meet the January 1, 2006 construction deadline is due to circumstances beyond its <br />control. <br /> <br /> NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br /> Section 1. Based on the above findings which are adopted, 1375 Olive, LLC is granted <br />an extension to January 1, 2007, in which to complete construction of the residential units for <br />which a property tax exemption was granted under Resolution No. 4815 on November 22, 2004. <br /> <br /> Section 2. The City Recorder is requested to forward a copy of this Resolution to 1375 <br />Olive, LLC, and to append a copy of this Resolution to Resolution No. 4815. <br /> <br /> Section 3. This Resolution shall become effective immediately upon its adoption. <br /> <br /> The foregoing Resolution adopted and effective the __ day of ., <br />2005. <br /> <br /> City Recorder <br /> <br />Resolution <br />L:\CMO\2005 Council Agendas\M050214\S0502142D-attA.doc <br /> <br /> <br />