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<br />RESOLUTION NO. <br /> <br />,-!'5~1 <br /> <br />A RESOLUTION EXTENDING THE COMPLETION DATE FOR CONSTRUCTION <br />OF RESIDENTIAL IMPROVEMENTS GRANTED A MULTIPLE-UNIT PROPERTY <br />TAX EXEMPTION UNDER RESOLUTION NO. 4494 (LORIG ASSOCIATES, LLC). <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. On July 8, 1996 the City Council adopted Resolution No. 4494 approving a multiple-unit property <br />tax exemption for property located at the east-west alley between 8th Avenue and Broadway on the north, <br />Charnelton Street on the east, the east-west alley between 10th Avenue and Broadway on the south, and <br />Lincoln Street on the West (Lorig Associates, LLC). <br /> <br />B. Subsection (1) of Section 2.947 of the Eugene Code, 1971 provides that the City Manager may <br />recommend to the Council that the exemption be terminated if the construction of the multiple-unit housing is <br />not completed by July 1, 1998, if an extension under subsection (4) of that section has not been granted. <br />Subsection (4) authorizes the Council to extend the deadline for completion of construction for an additional <br />12 consecutive months, to July 1. 1999 if the failure to complete is due to circumstances beyond the control <br />of the owner, and the owner has been and can be expected to act in good faith and with due diligence. <br /> <br />C. Lorig cannot commence its construction until after the City has substantially completed the <br />parking structure on top of which Lorig's project is to be built. The City has not yet begun construction of the <br />parking garage. Based on delays that have occurred, and the manner in which the project will be constructed, <br />Lorig Associates, LLC has advised it will not be possible to complete construction of the multiple-unit housing <br />by July 1. 1998 and has requested an extension to July 1, 1999. The Council finds that Lorig Associates, LLC <br />has been acting in good faith and with due diligence, and the inability to meet the July 1, 1998 construction <br />deadline is due to circumstances beyond its control. <br /> <br />Now, therefore. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE. a Municipal Corporation of <br />the State of Oregon, as follows: <br /> <br />Section 1. Based on the above findings, which are adopted herein, Lorig Associates, LLC is hereby <br />granted an extension to July 1, 1999 in which to complete construction of the multiple-unit housing for which <br />a property tax exemption was granted under Resolution No. 4494 on July 8. 1996. <br /> <br />Section 2. The City Recorder is requested to forward a copy of this Resolution to Lorig Associates, <br /> <br />LLC, and to append a copy hereof to Resolution No. 4494. <br /> <br />I")t-~ <br />The foregoing Resolution adopted th~ day of May. 1997. <br /> <br />Jt~ 1- 1!7 <br /> <br />City Recorder <br />