Agenda Packet 12-10-18 Meeting - REVISED

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December 10, 2018, Meeting – Item 2C respectively) which will include 64 1-bedroom units, six 2-bedroom units, and common space serving the units for which the exemption is sought. Section 2. Except as provided in Section 3 of this Resolution, the land and units described in Section 1.1 above are declared exempt from local ad valorem property taxation commencing July 1, 2019, and continuing for a continuous period of 20 years unless earlier terminated in accordance with the provisions of Section 2.940 of the Eugene Code, 1971, which provides for termination after an opportunity to be heard if: 2.1 Construction or development of the exempt property differs from the construction or development described in the application for exemption, or was not completed by January 1, 2020, and no extensions or exceptions were granted; or 2.2 The applicant fails to comply with provisions of ORS 307.515 to 307.523, provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council Resolution No. 5028, or any conditions imposed in this Resolution. The tax exemption shall be terminated immediately, without right of notice or appeal, pursuant to the provisions of ORS 307.531 in the event that the county assessor determines that a change of use to other than that allowed has occurred for the housing unit, or portion thereof, or, if after the date of this approval, a declaration as defined in ORS 100.005 is presented to the county assessor or tax collector for approval under ORS 100.110. Section 3. The tax exemption described in Section 2 of this Resolution shall not take effect unless 11thandLincoln LLC is the owner of the Property on July 1, 2019. Section 4. The City Manager, or the Manager's designee, is requested to forward a copy of this Resolution to the applicant within 10 days from the date of adoption of this Resolution, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 2019. The copy of the Resolution sent to the applicant shall be accompanied by a notice explaining the grounds for possible termination of the exemption prior to the end of the exemption period and the effects of the termination. Section 5. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution adopted the ___ day of December, 2018. _____________________________________ City Recorder