Resolution No. 5288 - Laserfiche WebLink

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RESOLUTION NO. 5288 A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR PROPERTY LOCATED ON OAK PATCH ROAD, EUGENE, OREGON (ASSESSOR'S MAP 17-04-35-43, TAX LOT 2401; ASSESSOR'S PROPERTY ACCOUNT NO. 0470243) (APPLICANT OAKWOOD MANOR LIMITED PARTNERSHIP AND ST. VINCENT DE PAUL SOCIETY OF LANE COUNTY, INC.) The City Council of the City of Eugene finds that: A. Oakwood Manor Limited Partnership is the owner of real property located on Oak Patch Road, Eugene, Oregon, 97402 (Assessor's Map 17-04-35-43, Tax Lot 2401; Assessor's Property Account No. 0470243), more particularly described on Exhibit A attached to this Resolution. B. The Oakwood Manor development first received a Low -Income Rental Housing Property Tax Exemption in 2000. The residential units have housed low-income households since that time. Under EC 2.940(5), in the final year of low income housing tax exemptions, applications for subsequent low-income housing tax exemptions for the property may be submitted. C. Oakwood Manor and St. Vincent de Paul Society of Lane County, Inc. (2890 Chad Drive, Eugene, Oregon, 97408) (the applicant) formed a general partnership. This partnership qualifies as a nonprofit corporation. As noted in ORS 307.518(4), a "nonprofit corporation" for purposes of this type of tax exemption includes a partnership where a nonprofit corporation is a general partner of the partnership and the nonprofit corporation is responsible for the day-to-day operation of the property that is the subject of the exemption. Oakwood Manor qualifies as a nonprofit corporation because St. Vincent de Paul, a nonprofit corporation, is the general partner of the partnership and is responsible for the day-to-day operation of the property. D. The applicant has submitted an application for a subsequent low-income housing exemption from ad valorem taxes under the City's Low -Income Rental Housing Property Tax Exemption Program (EC 2.937 to 2.940). E. The property includes 25 one -bedroom units, 23 two-bedroom units, and 23 three- bedroom units (for a total of 71 low-income rental units), as well as a Manager's unit and residential common areas. The applicant is seeking the tax exemption for the entire property. F. The Community Development Manager of the Planning and Development Department, as designee of the City Manager, has prepared a Report and Recommendation recommending that the application be approved and the exemption granted. In making that recommendation, the Community Development Manager found that the applicant submitted all materials, documents and fees required by EC 2.938, and is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 5028. In addition, the Resolution - Page 1 of 3