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ATTACHMENT B <br /> <br /> REPORT AND RECOMMENDATION <br /> of the <br /> Director of the Planning and Development Department (AIC) <br /> <br /> Application of Redwood Park, LLC for <br /> Property at 4103 West 18th Avenue <br /> For Low Income Rental Housing Property Tax Exemption <br /> (Section 2.937 to 2.940 of the Eugene Code, 1971) <br /> <br /> The Director of the Planning and Development Department (AIC) of the City <br />of Eugene finds that: <br /> <br /> 1. Redwood Park, LLC is the owner of the real property located at 4103 <br />West 18th Avenue, Eugene, Oregon (Assessor's Number 0718914), as more particularly <br />described in its Application submitted pursuant to Subsection 2.939 (2) of the Eugene <br />Code, 1971 for an exemption from ad valorem taxes under the City's Low Income Rental <br />Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, <br />1971). <br /> <br /> 2. I have reviewed the application and specifically find: <br /> <br /> 2.1 The applicant has submitted all materials and documents required <br /> by the City, including but not limited to: <br /> <br /> 2.1.1 Documentation that the housing units on the property will <br /> be constructed after 2/12/90; <br /> <br /> 2.1.2. Documentation that the required rent payment reflects the <br /> full value of the property tax exemption; <br /> <br /> 2.1.3 Documentation that the property will be offered for rental <br /> solely as a place for low-income households; <br /> <br /> 2.2 The applicant is in compliance with the policies set forth in the <br /> Standards and Guidelines adopted by Resolution 4623 of the City Council <br /> and has previously executed the required Consent to Inspection of <br /> Premises and Rent Regulatory Agreement, which contains a provision <br /> requiring certification of income levels of low-income occupants. <br /> <br /> 2.3 The project is otherwise consistent with provisions of the Eugene <br /> Code, 1971, and other adopted City policies and regulations. <br /> <br /> 2.4 When construction is complete, the property will consist of 232 <br /> low-income rental housing units (6 studios, 180 one-bedroom, and 46 two- <br /> bedroom units). All of the property will be used for the purpose of <br /> providing low-income rental housing. <br /> <br />Report and Recommendation - 1 <br /> <br /> <br />