Agenda Packet 1-27-20 Meeting - Laserfiche WebLink

Home Browse Search

January 27, 2019, Meeting – Item 2C The apartments will continue to be rented to households earning at or below 60 percent of area median income. The apartments would not be able to maintain their current level of affordability without the property tax exemption renewal. The requested exemption meets the substantive criteria [EC 9.239(3)(a)-(i)] as shown in the Report and Recommendation (Attachment A). No public comments were received. PREVIOUS COUNCIL DIRECTION The proposed project advances goals established in multiple local plans and policies. The Eugene-Springfield 2015 Consolidated Plan identifies many affordable housing goals including affordable housing preservation. Other plans and policies include the Residential Land Use and Housing Element of the Metropolitan Area General Plan, Eugene City Council Adopted Growth Management Policies, the Lane County Ten Year Plan to End Chronic Homelessness, Housing Dispersal Policy, and the Lane County Continuum of Care Plan. The proposed uses of funds also specifically support affordable housing goals set forth in the Envision Eugene pillars. Approval of the property tax exemption renewal application for Oakwood Manor would support the Envision Eugene pillar of providing housing affordable to all income levels. The Envision Eugene Housing Affordability pillar includes strategies to meet the growing and changing housing needs of Eugene residents by supporting subsidized affordable housing projects. Continuing to provide property tax exemptions to low-income rental housing developments has been identified as an action to help successfully implement this strategy. COUNCIL OPTIONS The City Council has two options: 1. Approve the tax exemption. 2. Deny the tax exemption. CITY MANAGER’S RECOMMENDATION The City Manager recommends option 1, to adopt a resolution granting a 20-year Low-Income Rental Housing Property Tax Exemption renewal for the Oakwood Manor property on Oak Patch Road. SUGGESTED MOTION Move to adopt a Resolution Approving a Low-Income Rental Housing Property Tax Exemption Renewal for Oakwood Manor. ATTACHMENTS A. Report and Recommendation B. Draft Resolution Approving the Tax Exemption C. Draft Resolution Denying the Tax Exemption D. Map of the proposed site