Item 2D: Resolution on Low-Income Housing Tax Exemption

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2. In~P-J~.c._tI.QJl$. Applicant agrees that the City may, at its option, inspect the premises at regular intervals to verify the accuracy of the reports required herein and compliance with other provisions of this Agreement. The parties may agree in writing that inspections occur on specific dates, and absent such an agreement City may perform inspections upon five (5) days' prior written notice to Applicant 3. Documentation. Applicant agrees to provide City upon ten (10) days' prior written request, documentation of all facts certified in the report required in Section '1 of this Agreement 4. Notices. Any notice required under this Agreement shan be in writing, and directed to City in care of the Planning & Development Department 99 V'Jest 10th, Eugene OR 97401, and to the Applicant at the address indicated above, 5. .e.ff~~tbl~.._P~.t~. This Agreement shall become effective upon approval of the Applicant's application for ad valorem property tax exemption to which this is appended, and shall remain in effect throughout the duration of the tax exemption period, 6, I~rmin~tion of Agreement This Agreement shaH terminate, with no further action required by either party upon: 6,1 The expiration of the tax exernption period; 6.2 Termination of the tax exemption by the City Council for Applicant's failure to: 6.2.1 Complete construction within the time required, including any extensions granted; 6.2.2 Comply with the provisions of ORS 307.515 to 307.523. the provisions of Sections 2,937 to 2.940 of the Eugene Code, 1971, or the Standards f.-md Guidelines adopted by Resolution No. 4327, or this Agreement; or 6.2.3 Comply with any conditions imposed in the Resolution approving the tax exemption application. 6.2, A determination by the County Assessor that a change of use to other than that allowed has occurred, resulting in an immediate termination of the tax exemption by the County ,A.ssessor.