Laserfiche WebLink
affordable rents. The tax exemption expired June 30, 2017. The apartments would not be able to <br />maintain their current level of affordability without the property tax exemption renewal. <br />The requested exemption meets the substantive criteria [EC 9.239(3)(a) -(i)] as shown in the <br />Report and Recommendation (Attachment A). No public comments were received during the <br />public comment period. <br />RELATED CITY POLICIES <br />The proposed project advances goals established in multiple local plans and policies. The Eugene - <br />Springfield 2015 Consolidated Plan identifies many affordable housing goals including affordable <br />housing preservation. Other plans and policies include the Residential Land Use and Housing <br />Element of the Metropolitan Area General Plan, Eugene City Council Adopted Growth Management <br />Policies, the Lane County Ten Year Plan to End Chronic Homelessness, Housing Dispersal Policy, <br />and the Lane County Continuum of Care Plan. The proposed uses of funds also specifically support <br />affordable housing goals set forth in the Envision Eugene pillars. <br />Approval of the property tax exemption renewal application for Mac McDonald would support the <br />Envision Eugene pillar of providing housing affordable to all income levels. The Envision Eugene <br />Housing Affordability pillar includes strategies to meet the growing and changing housing needs <br />of Eugene residents by supporting subsidized affordable housing projects. Continuing to provide <br />property tax exemptions to low-income rental housing developments has been identified as an <br />action to help successfully implement this strategy. <br />COUNCIL OPTIONS <br />The City Council has two options: <br />1. Approve the tax exemption. <br />2. Deny the tax exemption. <br />CITY MANAGER'S RECOMMENDATION <br />The City Manager recommends adoption of a resolution granting a 20 -year Low -Income Rental <br />Housing Property Tax Exemption for the property located at 1013-1086 Bennett Street and 2340- <br />2342 Compton Street. <br />SUGGESTED MOTION <br />Move to adopt a resolution approving a 20 -year Low -Income Rental Housing Property Tax <br />Exemption for the property located at 1013-1086 Bennett Street and 2340-2342 Compton Street. <br />ATTACHMENTS <br />A. Report and Recommendation <br />B. Resolution to approve the tax exemption <br />C. Resolution to deny the tax exemption <br />D. Map of the proposed site <br />January 22, 2018, Work Session and Meeting - Item 2E <br />