Ordinance No. 19854 - Laserfiche WebLink

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shall consider the application and grant or deny the property tax exemption. The city manager shall recommend approval of an application, and the counci 1 shall grant the exemption upon determining satisfactory compliance with or mitigation of the following criteria; ~a} The property i s offered for rent; fib} The property, or portion thereof subject to the property tax exemption, is occupied solely by low-income persons; ~c} The required rent payment reflects the ful 1 value of the property tax exemption; ~d} The housing units on the property were constructed after February 12, 1990; fie} The pal i ci es set forth i n the Standards and Guidelines for low-Income Rental Hauling Property Tax Exemption adopted by counci 1 resolution; ~ f } The proposed development i s consistent with the city's housing dispersal policy; fig} The praposed development does not cause displacement of low-income persons unless the city and developer can reach agreement on provisions Ito be provided by the developer} that reflect satisfactory mitigation thereof; ~h} The proposed development does not cause destruction of historic properties has defined in section 9.202 of this code}, except; 1. Where development has proceeded according to historic property moving and demolition procedures as set forth in section 9.212 of this code, or 2. The property is granted an exception by the council; and, ti} The praposed development es otherwise consistent with this code and adopted city regulations and policies. t3} As an alternative to an application considered under subsection ~2~ of this section, the city manager shall recommend approval of an application, and the council shall grant the exemption upon determining the applicant meets the criteria set forth in subsections ~2}fie}, ~f}, ~g}, th} and ~i} of this section and all the following criteria: ~a} If unoccupied, the property is offered far rental solely as a residence for low-income persons; fib} If occupied, the property is occupied solely as a residence for low-income persons; ~ c } The applicant's application was f i 1 ed prior to July 1, 2oaa; ~d} The property i s owned or being purchased by a nonprof i t corporate on organized i n a manner that meets the criteria for a public benefit corporation, as descre bed under ORS fi5. oat X31 } ar for a religious corporation, as described under ORS fi5.oo1~33}; and fie} The property i s owned or being purchased by a nonprof i t corporation that expends no more than ten percent of its annual income from residential rentals for purposes other than acquisition, maintenance or repair of residential rental property far low-income persons. 44} At the meeting at which the city manager's recommendati an i s considered the council shall adopt a resol uti on approving the application and ordinance - 3