Laserfiche WebLink
<br />RESOLUTION NO. 4854 <br /> <br />A RESOLUTION CONCERNING THE LOW-INCOME <br />RENTAL HOUSING PROPERTY TAX EXEMPTION <br />GRANTED REDWOOD PARTNERS, LLC., AND <br />AMENDING RESOLUTION NO. 4853. <br /> <br />The City Council of the City of Eugene finds that: <br /> <br />A. 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 />exemption for property described as being located at 4103 West 18th Avenue, Eugene, Oregon, <br />Assessor's Number 0718914. <br /> <br />B. Staff has advised that an error occurred in describing the property, resulting in all <br />the property for which the exemption was intended not being referenced in the Resolution. As <br />noted in Finding C of Resolution 4853, the project consists of the rehabilitation of the existing <br />216 units and construction of an additional 16 units. The existing and proposed units are located <br />on two tax lots identified as Assessor's No. 0718914 and 0718955. However, Resolution 4853 <br />did not contain a reference to Assessor's No. 0718955. In addition, the property owner, <br />Redwood Partners, LLC, is in the process of transferring its interest in the property to Redwood <br />Park Apartments, LLC. <br /> <br />C. In order to ensure that the low-income rental housing property tax exemption is <br />correctly applied to the entire project, Resolution No. 4853 should be amended to reflect that the <br />real property is identified as both Assessor's Nos. 0718914 and 0718955, and that the property <br />owner is Redwood Park Apartments, LLC. No changes are proposed to be made to the details of <br />the project, and all other 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 <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br />Section 1. Based on the above findings, which are adopted herein, Resolution No. 4853 <br />adopted 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 <br />reference to Assessor's Number 0718955. <br /> <br />(b) All references to "Redwood Partners, LLC" are amended to read <br />"Redwood Park Apartments, LLC". <br /> <br />Resolution - 1 <br />