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<br />recommended revisions thereto in order to ensure compliance with state law and Sections 2.937 to <br /> <br />2.940 of the Eugene Code, 1971. Resolution No. 4418, and the Standards and Guidelines adopted <br /> <br />therein should therefore be repealed, and the Amended Standards and Guidelines attached as Exhibit <br /> <br />A hereto should be approved and adopted as the process to be followed by the City Manager in <br /> <br />reviewing and making recommendations on applications for property tax exemption for new low- <br /> <br />income rental housing or land that is held for future development of low income rental housing. <br /> <br /> <br />NOW, THEREFORE, <br /> <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br /> <br /> <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br /> <br />Section 1. Based upon the above findings, which are hereby adopted, the Amended <br /> <br /> <br />Standards and Guidelines for Processing Applications for New Low-Income Rental Housing Local <br /> <br />Property Tax Exemption attached as Exhibit "A" hereto are approved and adopted as the procedures <br /> <br />to be followed in considering applications for exemption filed after January 1, 2000, and the policy <br /> <br />contained therein is declared to be the policy of the City of Eugene governing the basic requirements <br /> <br />for applications filed after January 1,2000. <br /> <br />Section 2. Resolution No. 4418 and the Standards and Guidelines adopted therein are hereby <br /> <br />repealed, except the procedures set forth in those Standards and Guidelines will continue to be <br /> <br />followed for applications filed before January 1, 2000. <br /> <br />The foregoing Resolution adopted the 13th day of March, 2000. <br /> <br />11 a- City~/!:r <br /> <br />Resolution - 2 <br />