Item 7: MUPTE for Fenway Apartments

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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Based upon the above findings which are adopted, and the City Council’s review of the Report and Recommendation of the Director of the Planning and Development Department attached as Exhibit B, the City Council approves the May 27, 2008 application of Twenty LLC for an ad valorem property tax exemption under the City’s Multiple-Unit Property th Tax Exemption Program for the residential units to be constructed at 450 East 14 Avenue, Eugene, Oregon, and more particularly described in the attached Exhibit A, subject to the following conditions: 1. The project shall consist of one residential two-bedroom unit, two residential three-bedroom units, two residential four-bedroom units, and two residential five-bedroom units, which are not designed for, nor will be used as, transient accommodations. 2. The project shall be completed on or before January 1, 2012. 3. The project shall include all of the public benefit design elements as required in the Standards and Guidelines and described in Section 5.2 of the Report and Recommendation attached as Exhibit B. 4. The project shall be in conformance with all local plans and planning regulations, including special or district-wide plans developed and adopted pursuant to ORS Chapters 195, 196, 197, 215 and 227. Section 2. The residential units to be constructed upon the property described in Section 1 above are declared exempt from local ad valorem property taxation beginning July 1 of the year following certification of completion and continuing for a continuous period of ten years unless earlier terminated in accordance with the provisions of Section 2.947 of the Eugene Code, 1971. Section 3. The City Manager, or the Manager’s designee, is requested to forward a copy of this Resolution to the applicants, and to the other affected taxing districts, within ten days, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 2009. Section 4. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution adopted and effective the ____ day of July, 2008. ___________________________________ City Recorder Resolution – Page 2 of 2 08 Fenway-Twenty Reapp. #1 MUPTE Approval Resol. (00198935)