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next scheduled meeting. If the council fails to act on an application which has been timely <br />referred to it as provided in the standards and guidelines within 184 days from the date it <br />was filed, the application shall be deemed approved and processed thereafter in <br />accordance with subsection ~7} of this section. <br />~4} At the meeting at which the city manager's recommendation is <br />considered the council shall adopt a resolution approving the application and granting the <br />property tax exemption, or adopt a resolution disapproving the application and denying the <br />property tax exemption. <br />~5} In approving an application, the council must find that: <br />~a} The owner has agreed to include in the construction, as a part <br />of the multiple-unit housing, one or more public benefits, including but not <br />limited to open spaces, parks and recreational facilities, common meeting <br />rooms and day care facilities, or as otherwise specified in the standards and <br />guidelines referred to above; <br />fib} The proposed construction project is, or will be at the time of <br />completion, in conformance with all local plans and planning regulations, <br />including special ordistrict-wide plans developed and adopted pursuant to <br />SRS chapters 197 and 221, which are applicable at the time the application <br />is approved; and <br />~c} The owner has complied with all the provisions of the city's <br />standards and guidelines referred to above. <br />Unless the council makes each of the f ndings, the council shall deny the application. In <br />addition to the owner's name and address, and a legal description or the assessor's. <br />property account number for the subject multiple-unit housing, the resolution approving the <br />application shall contain the above findings and setforkh the specific conditions of approval <br />or exclusions therefrom and specify the percentage and duration of the exemption. A <br />resolution denying an application shall set forth the specific reasons for denial. <br />~6} The city manager shall forward to the applicant a copy of the resolution <br />adopted by the council within 10 days from the date a determination is made under <br />subsection ~5} above, and on or before April 1 following approval shall file with the county <br />assessor a copy of the resolution approving an application. <br />~7} ~JVith respect to an application deemed approved under subsection ~3} <br />hereof, on or before April 1 following the expiration of the 18d-day period, the city manager <br />shallfi[ewith the county assessoran administrative.ordercontainingthe samefindingsand <br />information as required to be set forth in a resolution approving an application and forward <br />a copy thereof to the applicant. <br />~8} [n the case of a structure converted in whole or in part from other use <br />to multiple family use, only the increase in value attributable to the conversion shall be <br />exempt from taxation. <br />2.947 Multi le-Unit Rental Housin - Termination of A royal Review. <br />~1 } After a resolution approving an application has been filed, if the city <br />manager finds #hat: <br />ordinance - 2 <br />