Ordinance No. 19967 - Laserfiche WebLink

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be terminated, . f ~ 2 } I f, the owner fai 1 s to appear before the counc i 1 at the time sped f ~ ed ~ n the note ce, or ~ f the owner appears and fai 1 s to show cause why the exemption should not be terminated, the city manager shall notify every known lender and shall al 1 vw each such lender not less than 30 days after the date the notice of the failure to appear and show cause i s mai 1 ed to cure any nancompl i ance or to provide assure adequate to the council that all noncompliance shall be remedied. If the owner fails to appear and show cause why the exemption should not be terminated, and the lender fai 1 s to cure or give adequate assurance that any noncompliance wi 11 be cured, the council shat 1 adopt a resol uti on terminating the exemption, which shall contain its findings i n support thereof . Copy es of the resol ut ~ on shall be f i 1 ed with the county assessor and mai 1 ed to the property owner, at the owner's 1 ast address, and to the 1 ender, at the lender's last known address, within to days from the date adopted. If a determination is made that the exemption should continue as previously granted, the counci 1 shall adapt a moti on rejecting the manager's recommendation, and notify the property owner of that action within 10 days from the date of the hears ng, ~5} In no event shall the low-income housing granted an exemption by the council be exempt from ad valorem taxation for more than 20 successive years ,beginning with the tax year commencing i mmed i atel y~ fo11 owi ng the calendar year ~ n wh ~ ch the appl ~ cat ~ on was approved. The exemption shall apply only to the 1 and and improvements located thereon that are a part of the 1 ow-income housing unit , The exemption s h all be i n addition to any other exempt i an provided by law . Section 8. Sectian 2.945 of the Eugene Cade, 1911, is amended by adding a new Subsection ~8} thereto, to pravide: 2.945 Multi l e-Unit Rental Housi n -Pro ert Tax Exem ti an, ~8} . In the case of a structure converted i n whale or i n part from other use to mu1 t~ pl e f amp ly use, only the increase i n value attributable to the conveys i an shall be exempt from taxati an . Section 9. Subsection { 5} of Section 2.941 of the Eugene Code, 1911, i s amended to provide: 2.941 Multi l e-Unit Rental Hvusi n -Termination of A royal , Review, ~5} In any event, no multiple-unit hausi ng granted an exemption by the counci 1 shal 1 be exempt from ad val arem taxation for more than to successive years beginning the tax year commencing during the calendar year immediately following the calendar year in which construction is completed, determined by that stage in the construction process when, pursuant to ORS 301.330 the improvement waul d have gone on the tax roll s i n the absence of the exemption . The exemption shall not include the 1 and, nay any improvements 1 orated thereon that are not a part of the multiple-unit housing and shal 1 be i n addition to any other exempt ~ on prov ~ ded by law. Ordinance - 4