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<br />likely a garage at one time but is in substandard condition and has minimal value. The front house will <br />remain and be rehabilitated. The back of the property is currently paved and graveled. The total current <br />property taxes are $3,816. This is projected to remain on the tax rolls during the entire exemption period <br />and there will be no current revenue that is lost. Staff has determined that that construction of this <br />housing development, as presented, would not be financially feasible without the benefit of the tax <br />exemption. <br /> <br />The pro-forma that was submitted demonstrates that point. The annual exemption amount is estimated <br />at $16,488 or $164,880 over ten years. <br /> <br />Timing <br />This application was submitted on May 20, 2008. The council has 90 days to review the Director’s <br />Report and Recommendation. If the council hasn’t acted in 180 days the application is considered <br />approved. City Council consideration is currently within the first 90-day time period. <br /> <br /> <br />RELATED CITY POLICIES <br />MUPTE is enabled by state statute and the City of Eugene has participated in the program since 1978. <br />This site is not actually within the boundary of either the Downtown Plan or the Westside Plan. Both <br />neighborhoods encourage home ownership. Three of the City’s Growth Management Policies do apply: <br /> <br />Growth Management Policies <br />Policy 1 Support the existing Eugene Urban Growth Boundary by taking actions to increase <br />density and use on existing vacant land and under-used land within the boundary more <br />efficiently. <br />Policy 2 Encourage in-fill, mixed-use, redevelopment, and higher density development. <br />Policy 3 Encourage a mix of businesses and residential uses downtown using incentives and <br />zoning. <br /> <br />West University Refinement Plan <br />V.9 The City will encourage residential uses in all parts of the plan area. <br />V.11 The City and the neighborhood shall study ways to encourage a variety or mix of <br />structure types providing both owner and rental opportunities and appealing to a diverse <br />population. <br /> <br /> <br />COUNCIL OPTIONS <br /> <br />The council may approve the exemption, deny the exemption, or may delay approval in order to request <br />additional information from the developer to determine that a satisfactory public benefit has been met. <br /> <br /> <br />CITY MANAGER’S RECOMMENDATION <br />The City Manager recommends denial of the exemption, based on past council action. <br /> <br /> <br /> <br /> <br /> Z:\CMO\2008 Council Agendas\M080714\S0807147.doc <br />