Item 4: Approval of MUPTE Application for Paradigm on Pearl

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Action: Adoption of Resolution 5032 Approving a Multiple-Unit Property Tax Exemption for Residential Property Located at 1647 through 1689 Pearl th Street and 231 through 235 East 17 Avenue, Eugene, Oregon (Pearl Street Sustainable Housing LLC/Applicant) Meeting Date: May 9, 2011 Agenda Item Number: 4 Department: Planning and Development Staff Contact: Amanda Nobel www.eugene-or.gov Contact Telephone Number: 541-682-5535 ISSUE STATEMENT The City Council is asked to consider approval of a Multiple-Unit Property Tax Exemption (MUPTE) th for Pearl Street Sustainable Housing LLC’s project located at 17 Avenue and Pearl Street. (Resolutions for approval and denial are included in Attachments A and B, respectively.) BACKGROUND In 1975, the Oregon legislature adopted the enabling statutes for the MUPTE and Transit Oriented District Tax Exemption program. Since that time, both the State statutes and Eugene’s implementation ordinance has been amended. The council most recently amended Eugene’s code provisions and boundary in November 2008. To assist both staff and council in evaluating a MUPTE application, the code amendments included 1) adoption of approval criteria, and 2) direction to the City Manager to adopt a public benefit scoring system (described below). Pearl Street Sustainable Housing, LLC proposes to build the Paradigm on Pearl, a mixed-use building with 100 apartments, ground floor commercial spaces, and underground parking. (See Attachment C for the Report and Recommendation of the Planning and Development Director.) The project would be constructed using sustainable building practices and green building materials, with the goal of qualifying for LEED gold or platinum certification. The project would have four stories (117,753 square feet), 138 bedrooms, and parking (100 underground and five at-grade spaces). In accordance with zoning requirements, the first floor would have four commercial spaces of approximately 1,200 square feet th each. The project would include a central courtyard facing south across 17 Avenue oriented toward Spencer Butte. The façade of the building is designed to take maximum advantage of natural light with an upscale appearance. The south end of the courtyard would serve as open space through which residents could enter a private courtyard. The target market for the apartments would be families, professionals, and students who appreciate the benefits of living within the urban core. The construction method is planned to allow for conversion to condominiums in the future, as desired by the owners. \\Cesrv500\cc support\CMO\2011 Council Agendas\M110509\S1105094and atts A-C and F-G.doc