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payments: <br />~ 4 } To be eligible for an extension or modification of assessment <br />4 a} The real property owner shat 1 be fifty-five X55 } years <br />of age or more or, if a husband and wife, one shall be so; <br />fib} The owner`s annual income may not exceed fifty-five X55} <br />percent of the latest Lane County median family income recognized <br />on July 1 of each year by the Department of Housing and Urban <br />Development, or sixty ~ 64 } percent of that median farm l y income i f <br />the owner is a husband and wife; plus an additional eight 48} per- <br />cent of the Lane County median family income for each dependent <br />residing on the property and related to the owner by blood or <br />marriage in the first or second degree. <br />tc} The owner may not, or if the owner is husband and wife <br />neither may, own assets i n addition to the property of residence <br />and its household furnishings worth mare than three ~ 3 } times the <br />al l owab] a income under subsection ~ 4 } ~ b} of this section, except <br />that assets producing any part of the income counted in subsection <br />~4}fib} of this section shall be excluded in determining the amount <br />of assets owned; and <br />~d} The owner may not, or if the owner is husband and wife <br />neither may, own fee title or a possessory interest in other real <br />property which is allowed a deferral under this section, <br />7.191 Local improvements - Deferral of Assessment Payment -Eligibility <br />ase on De ay o Bene ~t. <br />As used ~n t ~s section, "undeveloped real property" means a <br />single parcel of land or several contiguous parcels of land i n single owner- <br />shi p with an area free of permanent structures capable of being divided into <br />four or more developable lots. <br />~ ~ } Co] 1 ecti on of the portion of the street construction assess- <br />ment representing the costs in excess of that fora ~8-foot street may be <br />deferred if: <br />~ a} The real property i s 1 ocated i n an R-1 or RA zoning <br />district and i s undeveloped property; or <br />~ b} The real property i s i n any other zoning district but i s <br />used for an owner-occupied single-family dwelling. ~~f the prop- <br />erty has the potential for development as more than one lot, <br />deferral wi 1 l be allowed only on the portion where the dwelling <br />is located, including minimum side yard setbacks.} <br />~ 3 } Col 1 ec ti on of a porti an of an assessment for improving an <br />alley may be deferred when real property specifically benefi tted by the im- <br />provement i s the site of only an owner-occupied si ngi e-family .dwelling and <br />structures accessory thereto, and is located in a zone other than AG, RA, or <br />R-1. The portion of the assessment which is to be deferred may not exceed <br />the difference between the amount of the assessment as i t i s computed on the <br />basis of the zone on which the property i s 1 ocated and the amount as i t <br />would be computed if the property were in an AG, RA, or R-1 zone. <br />~4} Collection of an assessment for construction of a new street <br />opened through action of the council may be deferred when the abutting real <br />property dues not have driveway access to the street and is not developed <br />fora purpose which makes use of the street. <br />~ 5 } Collection of a sewer improvement assessment may be deferred <br />when a sanitary sewer or a storm sewer trunk line is installed across or <br />Ordinance - 3D <br />