Resolution No. 4497 - Laserfiche WebLink

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REPORT AND RECOMMENDATION of the Director of the Planning & Development Department Application of the Metropolitan Affordable Housing Corporation For Low Income Rental Housing Property Tax Exemption . (Section 2.937 to 2.940 of the Eugene Code, 1971) The Director of the Planning & Development Department of the City of Eugene finds that: 1. The Metropolitan Affordable Housing Corporation is the owner of real property located at 5425 Foxhollow Road, Eugene, Oregon, as more particularly described in its Application submitted pursuant to Subsection 2.939 (2) of the Eugene Code, 1971 for an exemption from ad valorem taxes under the City's Low Income Rental Housing Property Tax Exemption Program (Section 2.937 to 2.940 of the Eugene Code, 1971). 2. I have reviewed the application and specifically find: 2.1 The applicant has submitted all materials and documents required by the City, including but not limited to: 2.1.1 Documentation that the housing units on the property were constructed after 2/12/90; 2.1.2 Documentation that the required rent payment reflects the full value of the property tax exemption: 2.1.3 Documentation that the property is offered for rental solely as a residence for low-income persons; 2.2 The applicant is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4327 of the City Council and has previously executed the required Consent to Inspection of Premises, and Rent Regulatory Agreement, which contains a provision requiring certification of income levels of low-income occupants. 2.3 The property is otherwise consistent with provisions of the Eugene Code, 1971 and other adopted City policies and regulations. 2.4 The property consists of sixty (30 duplex structures) low-income rental housing units (48- 2bedroom and 12-3bedroom). All of the property will be used for the purpose of providing low-income rental housing.