Resolution No. 4485 - Laserfiche WebLink

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Unit Rental Housing Property Tax Exemption Program for the improvements to be constructed upon the property located at 632 East 15th Avenue, Eugene, Oregon, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, be, and the same is hereby approved, subject to the following conditions: 1. The project shall be completed before July 1, 1998. 2. The project shall consist of 30 total rental units. 3. The project shall contain public benefits that include, but are not limited to: all first floor units shall be handicap adaptable to meet current codes; the property will be extensively landscaped, with a lot coverage of 55.6% (which is less than the 60% allowed in R-4 zoning); the provision of adequate secured automobile parking, with eight covered parking ~paces; the provision of 30 indoor, very secure, and generous sized bicycle parking spaces; and the removal of two existing older structures in poor condition. The applicant shall pay the low income housing fee, which during years three through ten of the exemption period, will generate $3,480 annually for the City's low income housing fund. Section 2. That the improvements to be constructed upon the property described in Section 1 above are hereby declared exempt from local property taxation commencing July 1 of the year following certification of completion and continuing for a continuous period of 10 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 applicant, and to the other taxing districts affected hereby within ten days from the date hereof, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 1997. 1b . The foregoing Resolution adopted the~ day of ~ay, 1996. tr-- ~~~ Resolution - 2