03/13/2017 City Council Agenda - Laserfiche WebLink

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ATTACHMENT A Resolution Amendment RESOLUTION NO. A RESOLUTION AMENDING RESOLUTION NO. 5167 CONCERNING APPROVAL OF THE MULTIPLE -UNIT PROPERTY TAX EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 844 OLIVE STREET, EUGENE, OREGON (Applicant: Granite Properties LLC). The City Council of the City of Eugene finds that: A. On July 27, 2016, the City Council passed Resolution No. 5167 approving the application of Granite Properties LLC for an ad valorem property tax exemption under the City's Multiple -Unit Property Tax Exemption Program for residential units to be constructed at 844 Olive Street, Eugene, Oregon (Assessor's Map Number 17-03-31-13, Tax Lot 4400) and the southern half of Urban Renewal Agency owned property (approximately 2,000 square feet) that is directly west of 844 Olive Street (currently part of Assessor's Map 17-03-31-13, Tax Lot 4200) (collectively referred to as "the property"), subject to certain conditions. B. One of the conditions for approval was described in Section 3 of the Resolution which provided that "the tax exemption shall not take effect unless or until closing occurs on the purchase of the property by Granite Properties LLC." C. In September 2016, the property identified as Assessor's Map Number 17-03-31- 13, Tax Lot 4400 was purchased by Granite Properties LLC, along with three others, as tenants in common. As Granite Properties LLC is not the sole owner of the property purchased, in order to avoid any question as to the validity of the property tax exemption, Resolution No. 5167 should be amended to specify that the required purchase has occurred. 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. Section 3 of Resolution No. 5167 is amended to provide as follows: Section 3. Notwithstanding Section 2 above, the tax exemption shall not take effect unless closing has occurred on the purchase of the property identified as Assessor's Map Number 17-03-31-13, Tax Lot 4400 by Granite Properties LLC, either alone or with others. Resolution - Page 1 of 2