Ordinance No. 20472 - Laserfiche WebLink

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and no extensions or exceptions as provided in subsection (4 ) hereof have been granted; or, (4) Upon receipt of a request from the property owner, the council may, by resolution, extend the deadline beyond January 1, 2020 for completion of construction of the low- income rental housing for a period not to exceed 12 consecutive months, i.e., January 1, 2021, if it finds the failure to complete construction by January, 1, 2020 was due to circumstances beyond the control of the owner, and that the owner had been and could reasonably be expected to act in good faith and with due diligence. If property granted an exemption hereunder is subsequently destroyed by fire or act of God, or is no longer capable of owner - occupancy due to circumstances beyond the control of the owner, the exemption shall cease, but no_ additional taxes shall be imposed upon the property under ORS 30 7.531 or 307.533. (5) The low - income housing granted an exemption by the council shall be exempt from ad valorem taxation for 20 successive years beginning with the tax year commencing immediately following the calendar year in which the application was approved. The exemption shall apply only to the land and improvements located thereon that are a part o_f.the low- income rental housing unit, or land that is being held for future developrnent of low income rental housing. The exemption shall be in addition to any other exemption provided by law. In the final year of low- income housing tax exemptions, applications for subsequent low - income housing tax exemptions for the property may be submitted. Such applications shall be processed in accordance with sections 2.937 to 2.940 of this code. Section 5 . The City Recorder, at the request of, or with the consent of the City Attorney, is authorized to administratively correct any reference errors contained herein; or in other provisions of the Eugene Code, 1971, to the provisions added, amended or repealed herein. Passed by the City Council this 13 day of April, 2011 Approved by the Mayor this /Y day of April, 2011 Deput Cit R111 Mayor 0 Ordinance - Page 3 of 3