Resolution No. 5252 - Laserfiche WebLink

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RESOLUTION NO. 5252 A RESOLUTION AMENDING RESOLUTION NO. 5218 CONCERNING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR PROPERTY LOCATED ON ROSS LANE AND ON HELEN STREET, EUGENE, OREGON. (APPLICANT VINCENT DE PAUL SOCIETY OF LANE COUNTY, INC.) The City Council of the City of Eugene finds that: A. On January 22, 2018, the City Council passed Resolution No. 5218, a copy of which is attached as Exhibit Ato this Resolution. That Resolution approved the application of St. Vincent de Paul Society of Lane County, Inc. for an exemption from ad valorem taxes under the City's Low -Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, 1971) for the development of 24 two-bedroom units, 12 three-bedroom units, and residential common areas on the property located at 2640-2652 Ross Lane and 550-556 Helen Street, Eugene, Oregon, 97404 (Assessor's Map 17-04-12-34; Tax Lot No. 600; Assessor's Property Account No. 1518479). The Resolution declared the land and units exempt from taxation commencing July 1, 2018 and continuing for a continuous period of 20 years. B. It is necessary to amend Resolution No. 5218 to clarify that the Low -Income Rental Housing property tax exemption applies to the subject property as follows: 1. Remove 2648 Ross Lane from the properties approved for the tax exemption under the Citv's Low -Income Rental Housing Provertv Tax Exemption Program. The unit located at 2648 Ross Lane was one mistakenly approved for the tax exemption by Resolution No. 5218. However, a Head Start facility operates at that address and the Head Start Facility is not eligible for the City's Low -Income Rental Housing property tax exemption. Resolution 5218 should be amended to clarify that the Low - Income Rental Housing property tax exemption does not apply to the Head Start facility. 2. Clarifv that the tax exemption applies to the property located at 2638 Ross Lane. The property located at 2638 Ross Lane was erroneously omitted from Resolution No. 5218. Because 2638 Ross Lane is part of the low-income housing development and eligible for the Low -Income Rental Housing property tax exemption, it should be included as one of the properties approved for the tax exemption. C. City staff and St. Vincent de Paul Society of Lane County, Inc. have executed amendments to the Rent Regulatory Agreement required by Section 5.1 of the Low -Income Rental Housing Property Tax Exemption Standards and Guidelines to clarify that the Rent Regulatory Agreement applies to the properties located at 2638 Ross Lane and 554 Helen Street and the Agreement does not apply to the property located at 2648 Ross Lane. The amendments to the Rent Regulatory Agreement will take effect upon passage of this Resolution. Resolution - Page 1 of 2