Resolution No. 5032 - Laserfiche WebLink

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H. The applicant has agreed to include in the construction one or more public benefits. I. The proposed project will be at the time of completion, in conformance with all local plans and planning regulations, including special or district -wide plans developed and adopted pursuant to ORS chapters 195, 196, 197, 215 and 227, that are applicable at the time the application is approved. J. The project is not designed for, and will not be used as transient accommodations. K. Granting the application is in the public interest. In making this determination, the City Council has considered the number of points awarded to the project based on the public benefit scoring system contained in the Standards and Guidelines. L. The Report and Recommendation attached as Exhibit B recommends that the application be approved and the exemption granted. In making that recommendation, the Director found that the applicant submitted all required materials, documents and fees as set forth in Section 2.945 of the Eugene Code, 1971, and the Standards and Guidelines, and the applicant is in compliance with the policies contained therein. Now, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1 . Based upon the above findings which are adopted, and the City Council's review of the Executive Director of the Planning and Development Department's Report and Recommendation which is attached as Exhibit B, the City Council approves the application of Pearl Street Sustainable Housing LLC for an ad valorem property tax exemption under the City's Multiple -Unit Property Tax Exemption Program for the residential units to be constructed at 1547 through 1 689 Pearl Street and 231 through 235 East 17 Avenue, Eugene, Oregon, and more particularly described in Exhibit A, subject to the following conditions: 1. The project shall consist of development of 40 studio units, 32 one - bedroom units, 18 two bedroom units and 10 three - bedroom units, for a total of 100 residential units. The project will also include 4,800 square feet of commercial space, and underground parking. The commercial space and parking areas for the commercial space are not subject to this tax exemption. The parking spaces reserved for the residents are included in this tax exemption. 2. The project shall be completed on or before January 1, 2012. No extension shall be expected, if the project is not completed by January 1, 2012. 3. No later than 18 months after receiving a Certificate of Occupancy, the applicant shall submit to the City's Planning and Development Department documentation Resolution - Page 2 of 3