Ordinance No. 19967 - Laserfiche WebLink

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ORDINANCE NO, 19961 AN ORDINANCE CONCERNING PROPERTY TAX EXEMPTIONS; AMENDING SECTIONS 2,910, 2,912, 2.91fi, 2.9202.931, 2.939, 2.940, 2.945, AND 2.9410E THE EUGENE CODE, 1911; AND DECLARING AN EMERGENCY. THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: Section 1. The definitions for "E1 i g i bl a property" and "Low income" set forth i n Section 2 , 910 of the Eugene Code, 1971, are amended to provide 2.910 Low Income Housin Tax Exem t i on -Definitions, For purposes of sections 2.912 to 2.922 of th i s code, the following words and phrases mean : E1 i i b1 a r0 ert . Property within the 1 imi is of the city of Eugene which i s : owned or being purchased by an el i g i bl e cOrporat~ on; actually and exclusively used for the purposes described i n 2fi U, S. C, 501 ~c} ~3} or ~4} ; and, occupied by 1 aw income persons. For the purposes of this section property will be deemed to be occupied by 1 ow income persons i f i t i s made avai 1 abl a and reserved exclusively for low income persons and has been occupied by a 1 ow ~ ncome tenant w~ th i n the 1 ast six months . On1 y that portion of the real property and improvements located thereon that is occupied by low income persons shall be eligible property. low income. Income at or below fi0 percent of the area median income as determined by the State Housing Caunc i 1 based on information from the United States Department of Housing and Urban Deve1 opment. Section 2. Subsection ~ 1 } ~f } and subsection ~4} of Section 2.912 of the Eugene Code, 1911, are amended to provide: 2.912 Low Income Housin Tax Exem ti on - A l i cati on for Exem ti on, ~ 1 } An eligible corporation seeking tax exemption for e1 i g i bl e property shall subm~ t an app1 i cati on on a form provided by the city manager and pay the fee set by the city manager pursuant to section 2.020 of this code, The application shal 1 cantoi n the fo11 awi ng information: € f } A certi f i cat i an of income 1 evel s of 1 ow income occupants and a decl arati on that the income levels of all occupants of the property far which the exemption i s being applied, at the time of the application or within 30 days of the filing of the application are at or below fi0 percent of the area median income as determined by the State Housing Council based on information from the United States Department of Housing and Urban Development; Ordinance - 1