Item 6: MUPTE on Pearl on Campus

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The Pearl on Campus LLC for an ad valorem property tax exemption under the City’s Multiple- th Unit Property Tax Exemption Program for the residential units to be constructed at 693 East 16 Avenue and 1584 and 1586 Hilyard Street, Eugene, Oregon, and more particularly described in the legal description attached Exhibit A, subject to the following conditions: 1. The project shall consist of three two-bedroom units, two three-bedroom units, and three four-bedroom units, which are not designed for, nor will be used as, transient accommodations. 2. The project shall be completed on or before January 1, 2012. 3. The project shall include all of the public benefit design elements as required in the Standards and Guidelines and described in Section 2.2 of the Report and Recommendation attached as Exhibit B. 4. The project shall be in conformance with all local plans and planning regulations, including special or district-wide plans developed and adopted pursuant to ORS Chapters 195, 196, 197, 215 and 227. Section 2. The residential units to be constructed upon the property described in Section 1 above are declared exempt from local ad valorem property taxation beginning July 1 of the year following certification of completion and continuing for a continuous period of ten years unless earlier terminated in accordance with the provisions of Section 2.947 of the Eugene Code, 1971. Section 3. The City Manager, or the Manager’s designee, is requested to forward a copy of this Resolution to the applicants, and to the other affected taxing districts, within ten days, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 2009. Section 4. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution adopted and effective the ____ day of ___________, 2009. ___________________________________ City Recorder 00217117.DOC;1 Resolution – Page 2 of 2