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<br />Section 2. <br /> The land and units described in Section 1 above are declared exempt from <br />local ad valorem property taxation commencing July 1, 2010, and continuing for a continuous <br />period of twenty (20) years unless earlier terminated in accordance with the provisions of Section <br />2.940 of the Eugene Code, 1971, which provides for termination after an opportunity to be heard <br />if: <br /> <br />2.1 Construction or development of the exempt property differs from the construction <br />or development described in the application for exemption, or was not completed by <br />January 1, 2010, and no extensions or exceptions were granted; or <br /> <br />2.2 The property owner fails to comply with provisions of ORS 307.515 to 307.523, <br />provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council <br />Resolution No. 4623, or any conditions imposed in this Resolution. <br /> <br />The tax exemption shall be terminated immediately, without right of notice or appeal, pursuant to <br />the provisions of ORS 307.531 in the event: <br /> <br />2.3 The exempt property is being held for future development of low income rental <br />housing and it is used for any purpose other than the provision of low income rental <br />housing; or <br /> <br />2.4 The county assessor determines that a change of use to other than that allowed has <br />occurred for the housing unit, or portion thereof, or, if after the date of this approval, a <br />declaration as defined in ORS 100.005 is presented to the county assessor or tax collector <br />for approval under ORS 100.110. <br /> <br />Section 3. <br /> The City Manager, or the Manager's designee, is requested to forward a copy <br />of this Resolution to the applicant within ten days from the date of adoption of this Resolution, <br />and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before <br />April 1, 2010. The copy of the Resolution sent to the applicant shall be accompanied by a notice <br />explaining the grounds for possible termination of the exemption prior to the end of the <br />exemption period and the effects of the termination. <br /> <br />Section 4. <br /> This Resolution shall become effective immediately upon its adoption. <br /> <br />The foregoing Resolution adopted the _____ day of _________________, 2009. <br /> <br /> <br /> _______________________________________ <br /> City Recorder <br /> <br />00230369.DOC <br />Resolution - Page 2 of 2 <br />