Item 5: Resolution Approving MUPTE for Broadway Lofts

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ATTACHMENT A Resolution to Approve A RESOLUTION APPROVING A MULTIPLE-UNIT PROPERTY TAX EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 39 WEST BROADWAY, EUGENE, OREGON (First On Broadway, LLC/Applicant). The City Council of the City of Eugene finds that: A. First On Broadway, LLC is the owner of real property located at 39 W. Broadway Street, Eugene, Oregon, more particularly described in Exhibit A attached to this Resolution, and has 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 the rehabilitation of the existing building to include residential units and commercial space. B. The project, known as Broadway Lofts, consists of the development of ten studio units; six one-bedroom units; and three two-bedroom units, for a total of 19 residential units. In addition, the project will include 6,275 square feet of commercial space on the ground floor. C. The project is located within the boundaries of the downtown area as described in subsection (2) of Section 2.945 of the Eugene Code, 1971. D. The project could not financially be built “but for” the tax exemption. E. The applicant solicited comments from city-recognized affected neighborhood associations. F. The requirements in the Standards and Guidelines for Multiple-Unit Housing Property Tax Exemptions adopted by Administrative Order Nos. 53-09-01-F and 53-11-05 related to proximity to historic resources have been satisfied. G. The applicant has complied with the provisions of the Standards and Guidelines as described in the Report and Recommendation attached as Exhibit B to this Resolution which was prepared by the Executive Director of the Planning and Development Department (“the Executive Director”) as designee of the City Manager. H. The project will be completed on or before January 1, 2022, and the owner 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. S:\CMO\2012 Council Agendas\M120123\S1201235.doc