Resolution No. 4597 - Laserfiche WebLink

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RESOLUTION NO. 4597 A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR PROPERTY LOCATED AT OAKP A TCH ROAD, EUGENE, OREGON. (OAKWOOD MANOR LIMITED PARTNERSHIP/ST. VINCENT DE PAUL SOCIETY OF LANE COUNTY, INC.). The City Council of the City of Eugene finds that: A. Oakwood Manor Limited Partnership ("Oakwood Manor") is the owner of real property located at 1665 Oakpatch Road, (Assessor's Number 470243) Eugene, Oregon ("the property"), more particularly described on Exhibit "A" attached hereto and incorporated herein by reference. Oakwood Manor has submitted an application pursuant to Subsection 2.939(3) of the Eugene Code, 1971 for an exemption from ad valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, 1971). B. Oakwood Manor and St. Vincent dePaul Society of Lane County, Inc. ("St. Vincent dePaul") formed a general partnership. This partnership qualifies as a nonprofit corporation. As noted in ORS 307.518(3), a "nonprofit organization" for purposes of this type of tax exemption includes a partnership where a nonprofit corporation is a general partner of the partnership and the nonprofit corporation is responsible for the day-to-day operation of the property that is the subject of the exemption. Oakwood Manor qualifies as a nonprofit corporation because St. Vincent dePaul, a nonprofit corporation, is the general partner of the partnership and is responsible for the day-to-day operation of the property. C. The Director of the Planning and Development Department, as designee of the City Manager, has submitted a Report and Recommendation to the City Council indicating that the application be approved and the exemption granted. In making that recommendation, the Director found that: 1. The applicant has submitted all materials and documents required by the application and the City, including documentation that the housing units are occupied solely as residences for low-income persons; 2. The property meets the criteria for ownership by a nonprofit corporation organized in a manner that meets the requirements for public benefit corporation under OR 65.001(31) based on the status ofSt. Vincent dePaul as the general partner of Oakwood Manor, St. Vincent dePaul's responsibility for the day-to-day operation of the property; and because the partnership expends no more than ten percent of its annual income from residential units for purposes other than acquisition, repair or maintenance of residential rental property for low income persons;