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<br />ATTACHMENT A <br /> <br /> <br />RESOLUTION NO. __________ <br /> <br /> <br />A RESOLUTION CONCERNING THE LOW-INCOME RENTAL <br />HOUSING PROPERTY TAX EXEMPTION GRANTED <br />REDWOOD PARTNERS, LLC., AND AMENDING RESOLUTION <br />NO. 4853. <br /> <br /> <br /> The City Council of the City of Eugene finds that: <br /> <br /> A. <br /> On August 8, 2005 the City Council adopted Resolution No. 4853 approving an <br />application submitted by Redwood Partners, LLC for a low-income rental housing property tax <br />th <br />exemption for property described as being located at 4103 West 18 Avenue, Eugene, Oregon, <br />Assessor’s Number 0718914. <br /> <br />B. <br /> Staff has advised that an error occurred in describing the property, resulting in all the <br />property for which the exemption was intended not being referenced in the Resolution. As noted in <br />Finding C of Resolution 4853, the project consists of the rehabilitation of the existing 216 units and <br />construction of an additional 16 units. The existing and proposed units are located on two tax lots <br />identified as Assessor’s No. 0718914 and 0718955. However, Resolution 4853 did not contain a <br />reference to Assessor’s No. 0718955. In addition, the property owner, Redwood Partners, LLC, is in the <br />process of transferring its interest in the property to Redwood Park Apartments, LLC. <br /> <br />C. <br /> In order to ensure that the low-income rental housing property tax exemption is correctly <br />applied to the entire project, Resolution No. 4853 should be amended to reflect that the real property is <br />identified as both Assessor’s Nos. 0718914 and 0718955, and that the property owner is Redwood Park <br />Apartments, LLC. No changes are proposed to be made to the details of the project, and all other <br />provisions and requirements of Resolution 4853 will remain in effect. <br /> <br />NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal <br />Corporation of the State of Oregon, as follows: <br /> <br /> Section 1. <br /> Based on the above findings, which are adopted herein, Resolution No. 4853 adopted <br />by the City Council on August 8, 2005 is amended as follows: <br /> <br /> (a) All references to Assessor’s Number 0718914 are amended to include a reference <br />to Assessor’s Number 0718955. <br /> <br /> (b) All references to “Redwood Partners, LLC” are amended to read “Redwood Park <br />Apartments, LLC”. <br /> <br /> L:\CMO\2005 Council Agendas\M051024\S0510243C.doc <br /> <br />