Resolution No. 5016 - Laserfiche WebLink

Home Browse Search

RESOLUTION NO. 5016 A RESOLUTION APPROVING A Low - INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR THE PROPERTY LOCATED AT 1135 HAYES STREET, EUGENE, OREGON. (ST. VINCENT DE PAUL SOCIETY OF LANE COUNTY/ APPLICANT.) The City Council of the City of Eugene finds that: A. Lamb Building Limited Partnership is the owner of real property located at 1135 Hayes Street, Eugene, Oregon, 97402 (Assessor's Map 17- 04- 36 -31; Tax Lot Nos. 3200 and 3500; Assessor's Property Account Numbers 0482107 and 0482115). St. Vincent de Paul Society of Lane County, Inc. ( "the applicant "), located at P.O. Box 24608, Eugene, Oregon, 97402, has submitted an application pursuant to Subsection 2.93 9(2) of the Eugene Code, 1971, for an exemption from ad valorem taxes under the City's Low- Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, 1971). B. The tax exemption is being sought for the residential portion of the project, which will include 35 one - bedroom units and residential common areas (entry lobby, storage, community room, and laundry room) that are being constructed on the property. Construction is expected to be completed by October 31, 2010. C. The Community Development Manager of the Planning and Development Department, as designee of the City Manager, has prepared a Report and Recommendation, which is attached to this Resolution as Exhibit A, recommending that the application be approved and the exemption granted. In making that recommendation, the Community Development Manager found that the applicant submitted all materials, documents and fees required by the application and Section 2.93 8(1) of the Eugene Code, 1971, and is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4623. In addition, as described more fully in Exhibit A, the applicant has complied with the criteria for approval provided in Section 2.93 9(2) of the Eugene Code, 1971. D. The Oregon Low- Income Rental Housing statutes have been amended to allow prof ect completion to occur any time before January 1, 2020. The City has not yet amended its Code provisions to reflect this change and still requires the applicant to get an extension to allow a "completion of construction" deadline after January 1, 2010. The construction associated with this application was not complete by January 1, 2010 because commencement of development could not begin prior to the award of Low Income Housing Tax Credits (LIHTC) from the State of Oregon. These circumstances were beyond the control of the owner and the owner can reasonably be expected to act in good faith and with due diligence to complete construction of the low- income rental housing by January 1, 2011.