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property taxes. The proposed project also includes the construction of 16 new units of housing. The <br />council must weigh the benefits of providing long-term, rent-controlled housing for a low-income <br />population against the loss of revenue. <br /> <br />COUNCIL OPTIONS <br />The City Council may approve or deny the tax exemption. <br /> <br />CITY MANAGER'S RECOMMENDATION <br />The City Manager recommends the approval of the resolution granting a 20-year property tax exemption <br />to Redwood Park. <br /> <br />SUGGESTED MOTION <br />Move to approve Resolution 4853 approving a low-income rental housing property tax exemption for <br />the property located at 4103 West 18th Avenue, Eugene, Oregon (Assessor's number 0718914) <br />(Redwood Partners, LLC.) <br /> <br />ATTACHMENTS <br />A. Resolution <br />B. PDD Director's recommendation <br /> <br />Note: A copy of the appfication for property tax exemption is available for review in the <br /> Council Office. <br /> <br />FOR MORE INFORMATION <br />Staff Contact: Richie Weinman <br />Telephone: 682-5533 <br />Staff E-Mail: Richie.d.weinman~ci. eugene.or.us <br /> <br /> L:\CMO\2005 Council Agendas\M050808\S0508082E.doc <br /> <br /> <br />