Item 2G: Resolution Granting Multi-Unit Property Tax Exemption (Coho)

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\ S0701222G.doc\M070122\Agendas Council 2007 The project developer, Dan Neal, appears to be very committed to sustainable practices. Coho Townhouses is being designed by architect Richard Shugar and to be constructed by Essix Construction, two firms with significant experience in sustainable building. The development will feature a variety of elements including the use of fiberglass instead of vinyl windows, greater reliance on natural light, and landscaping with native species. Since the application was submitted to the City, the project has been refined even further. Mr. Neal reports that additional sustainable features include: 1) installing solar photovoltaic panels to generate electricity for the property and to go into the EWEB grid; 2) use of Marmoleum, a sustainable product, for kitchen and bathroom floors; 3) carpeting with recycled materials as backing; 4) specifying the use of paints with no VOC's (volitale organic compounds); 5) use of many building materials made of medium density fiberboard such as interior doors and cabinets, and cabinets that are formaldehyde free; 6) use of Hardi Plank exterior siding, which is made cement fiberboard; 7) treating the stormwater on-site; and 8) use of medium density fiberboard baseboards. The developers have recognized the need for open space in the dense West University Neighborhood. The project contains 60% open space on the site. The project is three stories tall and the proposal indicates this will not dwarf adjacent structures. It is shorter than the PeaceHealth parking garage across the alley to the north and a similar height to the Parkside Place apartments now under construction across the street, south of West University park. Impact of Tax Exemptions The City and other local taxing districts forgo revenue when property is exempted from taxes. This project proposes new construction on a property that has been underdeveloped, based on the zoning. The land continues to be taxed during the exemption period. The improvements will bring substantial revenue, after ten years, beyond what is currently being collected. RELATED CITY POLICIES MUPTE is enabled by state statute. The City of Eugene has participated in the MUPTE program since 1978. Since that time, all 14 requests have been approved (Attachment D) by the City Council. Encouraging housing in the core area is consistent with numerous adopted planning and policy documents. Examples include: Growth Management Policies Policy 1 Support the existing Eugene Urban Growth Boundary by taking actions to increase density and use on existing vacant land and under-used land within the boundary more efficiently. Policy 2 Encourage in-fill, mixed-use, redevelopment, and higher density development. Policy 3 Encourage a mix of businesses and residential uses downtown using incentives and zoning. West University Refinement Plan V.9 The City will encourage residential uses in all parts of the plan area. V.11 The City and the neighborhood shall study ways to encourage a variety or mix of structure types providing both owner and rental opportunities and appealing to a diverse population. L:\CMO\2007 Council Agendas\M070122\S0701222G.doc L:\CMO