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December 10, 2018, Meeting – Item 2C
<br />
<br />
<br />RESOLUTION NO. ____
<br />
<br />
<br />A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING
<br />PROPERTY TAX EXEMPTION FOR PROPERTY LOCATED AT 11TH AVENUE
<br />AND LINCOLN STREET, EUGENE, OREGON. (Applicant 11thandLincoln LLC)
<br />
<br />
<br /> The City Council of the City of Eugene finds that:
<br />
<br /> A. Craig I. Weicker, Manager of 11thandLincoln LLC, has entered into a Purchase Option
<br />Agreement to purchase real property located at the northwest corner of 11th Avenue and Lincoln Street,
<br />Eugene, Oregon, 97401 (Assessor’s Map 17-03-31-13; Tax Lots 12900, 13000, 13100, 13200, and 13300;
<br />Assessor’s Property Account Nos. 0262020, 0262012, 0261998, 0262004, 0262038, respectively) owned
<br />by Martin Henner, located at 1050 Lincoln Street, Eugene, Oregon.
<br />
<br />B. 11thandLincoln LLC, located at 2791 Oak Alley Suite 5, Eugene, Oregon, has submitted
<br />an application pursuant to Subsection 2.939(2) of the Eugene Code, 1971, for an exemption from ad
<br />valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections
<br />2.937 to 2.940 of the Eugene Code, 1971) with respect to low-income residential units to be developed on
<br />the property.
<br />
<br />C. The project will consist of the development of a 70-unit apartment complex consisting of
<br />64 1-bedroom units, six 2-bedroom units, and common space serving the units for which the exemption
<br />is sought.
<br />
<br /> D. The Community Development Manager of the Planning and Development Department, as
<br />designee of the City Manager, has prepared a Report and Recommendation recommending that the
<br />application be approved and the exemption granted. In making that recommendation, the Community
<br />Development Manager found that the applicant submitted all materials, documents and fees required by
<br />EC 2.938 and is in compliance with the policies set forth in the Standards and Guidelines adopted by
<br />Resolution No. 5028. In addition, the Community Development Manager found that the applicant has
<br />complied with the criteria for approval provided in EC 2.939(2) and the eligibility requirements at Section
<br />2.1 through 2.9 of the Standards and Guidelines adopted by Resolution No. 5028.
<br />
<br />NOW, THEREFORE,
<br />
<br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal
<br />Corporation of the State of Oregon, as follows:
<br />
<br /> Section 1. Based upon the above findings, the City Council approves the application of
<br />11thandLincoln LLC for an ad valorem property tax exemption under the City's Low-Income Rental
<br />Housing Property Tax Exemption Program for the property located at the northwest corner of 11th Avenue
<br />and Lincoln Street, Eugene, Oregon, 97401 (Assessor’s Map 17-03-31-13; Tax Lots 12900, 13000, 13100,
<br />13200, and 13300; Assessor’s Property Account Nos. 0262020, 0262012, 0261998, 0262004, 0262038,
<br />Attachment B
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