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<br />(4) Upon receipt of the city manager's written recommendation on an <br />application, the council shall consider the application, the city manager's <br />written recommendation, and any written comments submitted during the <br />30 day comment period on the application at its next scheduled meeting. <br />If the council fails to act on an application which has been timely referred <br />to it as provided in the standards and guidelines within 180 days from <br />the date it was filed, the application shall be deemed approved and <br />processed thereafter in accordance with subsection (9) of this section. <br />(5) At the meeting at which the city manager's recommendation on an <br />application is considered, the council shall adopt a resolution approving <br />the application and granting the property tax exemption, or adopt a <br />resolution disapproving the application and denying the property tax <br />exemption. <br />(6) In order to approve an application, the council must find that: <br />(a) The project will provide multiple-unit housing of five or more units; <br />(b) The project is located within the boundaries of the core or transit <br />oriented areas described in subsection (2) above; <br />(c) The proposal could not financially be built "but for" the tax <br />exemption; <br />(d) The applicant solicited comments from city-recognized affected <br />neighborhood associations; <br />(e) The requirements in the standards and guidelines related to <br />proximity to historic resources have been satisfied; <br />(f) The applicant has complied with the provisions of the standards <br />and guidelines; <br />(g) In case of multiple-unit housing located in the transit oriented area <br />described in subsection (2)(b) of this section, the structure must: <br />1. Be physically or functionally related to a light rail or mass <br />transportation system; and <br />2. Enhance the effectiveness of a light rail or mass transportation <br />system. <br />(h) In the case of the construction of, or the addition or conversion to <br />multiple-unit housing: <br />1. The construction, addition or conversion will be completed on <br />or before January 1, 2012; <br />2. The owner has agreed to include in the construction, addition <br />or conversion, as a part of the multiple-unit housing, one or <br />more public benefits, including but not limited to open spaces, <br />parks and recreational facilities, common meeting rooms, child <br />care facilities, transit amenities and transit or pedestrian <br />design elements, or benefits otherwise specified in the <br />standards and guidelines; <br />3. The proposed construction, addition or conversion project is, <br />or will be at the time of completion, in conformance with all <br />local plans and planning regulations, including special or <br />district-wide plans developed and adopted pursuant to ORS <br /> <br />Ordinance -Page 3 of 7 <br />