Item 4: Adoption of Resolution 5045 Extending the Completion Date for a MUPTE (The Paradigm on Pearl)-and att A

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ATTACHMENT A RESOLUTION NO. ___ A RESOLUTION EXTENDING THE COMPLETION DATE FOR CONSTRUCTION OF RESIDENTIAL UNITS GRANTED A MULTIPLE-UNIT PROPERTY TAX EXEMPTION UNDER RESOLUTION NO. 5032. (Paradigm on Pearl Project; Pearl Street Sustainable Housing LLC/Applicant). The City Council of the City of Eugene finds that: A. Pearl Street Sustainable Housing LLC is the owner of real property located at 1647 th through 1689 Pearl Street and 231 through 235 East 17 Avenue, Eugene, Oregon and had submitted an application pursuant to the City’s Multiple-Unit Property Tax Exemption Program (Sections 2.945 and 2.947 of the Eugene Code, 1971), with respect to residential units to be constructed on the property. B. On May 9, 2011, the City Council adopted Resolution No. 5032 approving a multiple- unit property tax exemption for the construction of residential units on the property. That Resolution required that construction be completed on or before January 1, 2012, and provided that no extension was to be expected if the project was not completed by the deadline. C. Subsection (5) of Section 2.947 of the Eugene Code, 1971 authorizes the Council to extend the deadline for completion of construction of multiple-unit housing for an additional 12 consecutive months if it finds that the failure to complete construction by the time specified in the resolution approving the tax exemption was due to circumstances beyond the control of the owner, and that the owner had been acting in good faith and with due diligence. D. The property owner advises that circumstances beyond its control have resulted in construction delays and that completing construction by the January 2, 2012 deadline would require workers to work up to 60 hours per week. Therefore, the property owner has requested an extension of time until April 30, 2012, to complete construction of the residential units. An extension of the construction completion deadline will allow workers to work a normal 40 hour work week, which will result in labor cost savings. Those savings will be used to make additional improvements to the building that were not included in the original plan. E. The Council finds that the property owner has been acting in good faith and with due diligence, and the inability to meet the January 1, 2012 construction deadline is due to circumstances beyond its control. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: S:\CMO\2011 Council Agendas\M111024\S1110244 -and att A.doc