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<br />RESOLUTION NO. 4766 <br /> <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO <br />MAKE APPLICATION TO THE STATE OF OREGON <br />ECONOMIC AND COMMUNITY DEVELOPMENT <br />DEPARTMENT FOR DESIGNATION OF A VERTICAL <br />HOUSING DEVELOPMENT ZONE. <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. The Economic and Community Development Department ofthe State of Oregon has <br />authority to establish Vertical Housing Development Zones within a core area of an urban center of <br />the state, a light rail station area, or a transit oriented area. Establishment of these zones is intended <br />to encourage vertical housing development projects consisting of the construction, reconstruction <br />or rehabilitation of a building, or a group of buildings, in a manner that each building consists of a <br />first floor, or first floor and other floors, to be used for commercial uses and one or more floors <br />located above the commercial use floor (s) to be used for residential purposes. <br /> <br />B. An approved vertical housing development project located within a Vertical Housing <br />Development Zone will be partially exempt from ad valorem taxes imposed by local taxing districts <br />(except those who choose not to participate) for a period not to exceed ten consecutive years. <br /> <br />C. Establishment of a Vertical Housing Development Zone in the core area of the City <br />will provide incentives for construction or reconstruction of mixed use projects consistent with <br />existing City policies adopted in the Downtown Plan, Growth Management Plan, and the Council's <br />2003 - 2004 Council Vision and Goals Statement. <br /> <br />NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br />Section 1. The City Manager is authorized and directed to prepare and submit an application <br />for designation of a Vertical Housing Development Zone to the Director of the Economic and <br />Community Development Department of the State of Oregon for the area generally bounded by: <br /> <br />Lincoln Street on the West, <br />3rd Avenue to the Willamette River on the North, <br />Hilyard Street on the East, and <br />On the south and east, by a line that runs along 11 th Avenue from Hilyard Street to <br />High Street, High Street from 11 th Avenue to the east-west alley between 13th and 14th <br /> <br />Resolution - 1 <br />