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RESOLUTION NO. 5025
<br />AMENDMENT OF' RESOLUTION NO, 4999 APPROVING A LOW -
<br />INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR THE
<br />PROPERTY LOCATED AT 2984 2985 AND 2985 OAK STREET,
<br />EUGENE, OREGON. (SHELTERCARE /APPLICANT,)
<br />The City Council of the City of Eugene finds that:
<br />A. ShelterCare (the applicant), whose address is P.D. Box 23338, Eugene, Oregon,
<br />97402, is the owner of real property located at 2984, 2986, 2988 Oak Street and 2985 Willamette
<br />Street, Eugene, Oregon, 97402 (Assessor's Map /Tax Lot No. 18- 03- 07 -11- 06600; Assessor's
<br />Property Account Number 0631976), and submitted an application pursuant to Subsection
<br />2.93 9(3) of the Eugene Code, 1971, for an exemption from ad valorem taxes under the City's
<br />Low - Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the
<br />Eugene Code, 1971).
<br />B. On February ',8, 2010, Resolution No. 4999 was adopted approving ShelterCare's
<br />application for an ad Valorem property tax exemption under the City's Low - Income. - Rental
<br />Housing Property Tax Exemption Program for the properties located at 2954, 2986,'.-'and 2988
<br />Da Street Eugene, Oregon, 97402 (Assessor's Map /Tax Lot No. 18-03-07-11-06600
<br />Assessor's Property Account Number 0631976), for 35 one - bedroom units at rents affordable to
<br />60% of area median income. The future of the structure located at 2955 Willamette Street is
<br />uncertain. At this time, it is not being used as a residence for low- income persons and, therefore,
<br />is not subject to -the tax exemption. At the time that Resolution No.. 4999 was adopted,
<br />ShelterCare was in the process of purchasing the property, but the sale had not yet closed.
<br />ShelterCare's acquisition of the property was finalized in December, 2010.
<br />C. Resolution No. 4999 provided that the tax exemption commence on July 1, 2010,
<br />and continue for a continuous period of twenty (20) years. However, due to delay of the sale of
<br />the property, the exemption' was riot commenced on July 1, 2010. It is necessary to amend
<br />Resolution No. 4999 so that the exemption will commence on July 1, 2011, thereby allowing
<br />ShelterCare the full 20 years of the property tax exemption.
<br />D. In addition, Resolution No. 4999 declared the residential units on the property
<br />exempt from local ad Valorem property taxation; however, the Resolution should have declared
<br />both the land and units exempt as permitted by Section 2.940(5) of the Eugene Code, 1971.
<br />Therefore, Resolution No. 4999 should also be amended to reflect that the land and residential
<br />units are granted the exemption.
<br />NOW, THEREFORE,
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a
<br />Municipal Corporation of the State of Oregon, as follows:
<br />Resolution - Page 1 of 2
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