Item 4 - Multiple Unit Property Tax Exemption Ordinance

Home Browse Search

04-35-11-00400, 17-04-35-11-00300, 17-04-35-11-00300, 17-04- 35-11-00200, 17-04-36-23-00502, 17-04-36-23-00101, 17-04-36- 23-00501, 17-04-36-21-06800, 17-04-36-23-00300, 17-04-36-21- 06400, 17-04-36-12-14701, 17-04-36-12-15100, 17-04-36-12- 16000, 17-04-36-12-16300, 17-04-36-12-157000, 17-04-36-12- 16400, and 17-04-36-12-16600), then north to the NW corner of th the 5 Avenue Alley and Lincoln Street, as more particularly depicted on Map 2.945(2)(b) attached to Ordinance 20424 and appended to chapter 2 of this code.] (3) Applications for property tax exemption hereunder shall be filed with the city manager on or before February 1 immediately preceding the first assessment year for which exemption is requested and shall be accompanied by an application fee. The application shall be processed in accordance with standards and guidelines adopted by administrative rule of the city manager. As used in this section and section 2.947 of this code and the standards and guidelines, “city manager” includes the manager’s designee. The standards and guidelines adopted by the city manager in the manner described in section 2.019 of this code shall contain provisions relating the net financial benefit from the property tax exemption to the public benefits provided by the improvements, including a public benefit scoring system for evaluating applications. (4) Upon receipt of the city manager's written recommendation on an application, the council shall consider the application, the city manager’s written recommendation, and any written comments submitted during the 30 day comment period on the application at its next scheduled meeting. If the council fails to act on an application which has been timely referred to it as provided in the standards and guidelines within 180 days from the date it was filed, the application shall be deemed approved and processed thereafter in accordance with subsection (9) of this section. (5) At the meeting at which the city manager's recommendation on an application is considered, the council shall adopt a resolution approving the application and granting the property tax exemption, or adopt a resolution disapproving the application and denying the property tax exemption. (6) In order to approve an application, the council must find that: (a) The project will provide multiple-unit housing of five or more units; (b) The project is located within the boundaries of the core or transit oriented areas described in subsection (2) above; (c) The proposal could not financially be built “but for” the tax exemption; (d) The applicant solicited comments from city-recognized affected neighborhood associations; (e) The requirements in the standards and guidelines related to proximity to historic resources have been satisfied; (f) The applicant has complied with the provisions of the standards and guidelines; Ordinance -- Page 3 of 7