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<br />August 13, 2018 <br /> <br /> <br /> <br />Dear City of Eugene Mayor and City Councilors, <br /> <br />In 2012 Homes for Good Housing Agency partnered with Obie Companies to respond to a Lane County request <br />to re-develop the two blocks west of the 5th Street Public Market. The intent of this partnership was to provide <br />a variety of housing downtown that includes both affordable housing and market rate housing on what is <br />currently underutilized land owned by the County. This joint proposal responded directly what is called for in <br />Envision Eugene and the Eugene Downtown Plan which call for housing of all types and promote compact <br />development near downtown. <br /> <br />We are pleased to let you know that Market District Commons a 50-unit affordable housing project which will <br />serve downtown workers and veterans was recently awarded over 12 million dollars in Low Income Housing <br />Tax Credits and other funding by the State of Oregon. This combined with City of Eugene SDC waivers and <br />HOME funding will allow for our project to move forward. <br /> <br />We strongly support your approval of a temporary tax exemption to allow the market rate (The Gordon Lofts) <br />apartments to be developed that are part of the Obie Companies proposal. We have a direct interest in the <br />success of the Obie Companies proposal. Obie Companies has agreed to purchase the commercial ground <br />floor of Market District Commons which is important to our financing. More residents nearby will aid the <br />success of commercial space. In addition, having a mix of affordable and market rate units will provide for a <br />great diversity of residents and a more vibrant downtown neighborhood. <br /> <br />As you know, the intent of the tax exemption is to incentivize development where we want it. There is no <br />better location for sustainable downtown living in Eugene. Residents will have access to downtown <br />employment, the Willamette Greenway and can walk, bicycle or take transit from this location. In addition, this <br />project is being developed by local residents that are invested in the community have shown a track record for <br />building quality projects that make our community and economy better. <br /> <br />Please take the next step in implementing the vision for Eugene and making Eugene a thriving, sustainable <br />place to live by approving the MUPTE for The Gordon Lofts as part of the 5th Street Market expansion. <br /> <br />Respectfully, <br /> <br /> <br /> <br />Steve Ochs <br />Real Estate Development Director <br /> <br />October 17, 2018, Work Session – Item 2