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EUGENE CITY COUNCIL <br />AGENDA ITEM SUMMARY <br />Eugene <br />Adoption of a Resolution Approving a Low -Income Rental Housing <br />Property Tax Exemption for Emerald Village Eugene, Located at <br />Railroad Boulevard and North Polk Street, Eugene, Oregon. <br />(SquareOne Villages/Applicant.) <br />Meeting Date: January 22, 2018 <br />Department: Planning and Development <br />www.eugene-or.gov <br />ISSUE STATEMENT <br />Agenda Item Number: 2D <br />Staff Contact: Ellen Meyi-Galloway <br />Contact Telephone Number: 541-682-5532 <br />City Council is asked to approve a resolution for a new 20 -year Low -Income Rental Housing <br />Property Tax Exemption (LIRHPTE) for Emerald Village Eugene, located at Railroad Boulevard <br />and North Polk Street. The developer of the project is Square0ne Villages (SOV). The property will <br />be targeted to very low-income renters. <br />BACKGROUND <br />The City adopted the low-income rental housing property tax exemption program in 1990. Eugene <br />has approved tax exemptions for 30 affordable housing developments with over 1,200 units since <br />adoption. Council unanimously approved extending the 20 -year LIRHPTE program for an <br />additional 10 years in 2011. The approved ordinance also enables recipients to reapply for the 20 - <br />year LIRHPTE after the initial 20 -year period has expired. Council reviews each tax exemption <br />request on a case-by-case basis. Most recently, Council approved a new LIRHPTE for the St. <br />Vincent de Paul Youth House on Willamette Street in November 2016 and a LIRHPTE renewal for <br />Birchwood Apartments in January 2018. <br />Projects must meet 10 criteria including requirements for rents and incomes limited to <br />households with incomes at or below 60 percent of area median income (AMI). If an application <br />meets the substantive criteria [EC 9.239(3)(a) -(i)] as referenced in the Report and <br />Recommendation (Attachment A), the City must grant the exemption by resolution (Attachment <br />B). A decision to deny the exemption cannot be made by simple motion or inaction; it would need <br />to be made by a resolution (Attachment C) that explains how the applicant has failed to <br />demonstrate that the tax exemption is in the public interest. <br />Summary of requested tax exemption <br />The requested tax exemption is for Emerald Village Eugene, a newly constructed 22 -unit tiny <br />home affordable housing development in the Whiteaker neighborhood (map in Attachment D). <br />Square0ne Villages will provide the studio and one -bedroom tiny homes to extremely low and <br />very low-income households at affordable rents. Seventeen of the units will be for households <br />January 22, 2018, Work Session and Meeting - Item 2D <br />