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<br />ATTACHMENT A <br /> <br />ORDINANCE NO. ________ <br /> <br /> <br />AN ORDINANCE CONCERNING MULTIPLE-UNIT HOUSING PROPERTY <br />TAX EXEMPTIONS AND AMENDING SECTIONS 2.945 AND 2.947 OF <br />THE EUGENE CODE, 1971. <br /> <br /> <br />The City Council of the City of Eugene finds as follows: <br /> <br /> A. <br />In accordance with State law, Sections 2.945 and 2.947 of the Eugene Code <br />1971, were adopted setting forth provisions regarding approval of multiple-unit housing <br />property tax exemptions. One of the criteria for approving a multiple-unit housing <br />property tax exemption required that the project be completed on or before January 1, <br />2012. <br /> <br />B. <br /> State law has recently been amended and extended the January 1, 2012 <br />project completion deadline to January 1, 2022, and authorized the granting of an <br />exemption for a commercial use that is part of the multiple-unit housing building. <br /> <br />C. <br /> The Council has determined that Sections 2.945 and 2.947 of the Eugene <br />Code 1971, should be amended to allow the City’s multiple-unit housing property tax <br />exemption program to continue, consistent with the new State law, for the downtown <br />core. Although this Ordinance extends the program at this time only for the downtown <br />core, the Council will be considering in the near future what other parts of the City <br />should be eligible for the multiple-unit housing property tax exemption program. <br /> <br /> <br /> THE CITY OF EUGENE DOES ORDAIN AS FOLLOWS: <br /> Section 1. <br /> Sections 2.945 and 2.947 of the Eugene Code, 1971, are <br /> <br />amended to provide as follows: <br /> <br />2.945 Multiple-Unit Housing – Property Tax Exemption. <br />(1) <br /> The provisions of ORS 307.600 to 307.637 enable cities to grant local <br />property tax exemptions for multiple-unit housing located in core and <br />transit oriented areas designated by the city. There is a need and <br />demand for better housing at rental rates or sale prices accessible to a <br />broad range of the general public in the core and transit oriented areas <br />which is not likely to be produced without this incentive. This incentive <br />is intended to: <br />(a) Stimulate the construction of transit supportive multiple-unit <br />housing in the city’s core and transit oriented areas to improve the <br />balance between the residential and commercial nature of those <br />Ordinance -- Page 1 of 7 <br /> <br />