Item 6: Resolution Approving MUPTE for Park Place Apartments

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Action: Adoption of Resolution 5054 Approving a Multiple-Unit Property Tax Exemption for Residential Property Located at Willamette and Broadway (858 Pearl St., LLC/Park Place Apartments) Meeting Date: January 23, 2012 Agenda Item: 6 Department: Planning and Development Staff Contact: Amanda Nobel www.eugene-or.gov Contact Telephone Number: 541-682-5535 ISSUE STATEMENT The council is asked to consider approval of a Multiple-Unit Property Tax Exemption (MUPTE) for 858 Pearl Street, LLC’s Park Place Apartments project located at 877 East Park Street (the former City of Eugene Public Works Engineering building). The resolution for approval is in Attachment A. BACKGROUND In 1975, the Oregon legislature adopted the enabling statutes for the MUPTE and Transit Oriented District Tax Exemption Program. Since that time, both the State statutes and Eugene’s implementation ordinance has been amended. The council most recently amended the sunset date and shrank the boundary in September 2011. Also at that time, the council added the option to exempt the commercial portion of a multi-unit housing project to the extent that the commercial property is required or considered to be a public benefit. The council amended Eugene’s code provisions in November 2008, to assist both staff and the council in evaluating a MUPTE application with: 1) adoption of approval criteria and 2) direction to the City Manager to adopt a public benefit scoring system (described below). The City sold the property to the developer in 2011, for $1 million to create downtown housing. 858 Pearl Street, LLC proposes to renovate an existing building to create Park Place Apartments, with 24 apartments. (See Attachment B for the Report and Recommendation of the Planning and Development Director and Attachment C for an image of the building.) The project would have four stories (18,240 square feet), 28 bedrooms, and lease 30 off-site, City-owned parking spaces for the residents. The building is not a city landmark nor is it on the National Historic Register. Public Comments A display advertisement was published in The Register-Guard on December 20, 2011, soliciting comments for 30 days. The period ended on January 19, 2012. As of the writing of this agenda item summary, no comments have been received in response to the ad. If comments are submitted on or before January 19, staff will report that information to the council on January 23. The applicant did provide an email indicating support for the project from the Downtown Neighborhood Association Chair, included in Attachment D. S:\CMO\2012 Council Agendas\M120123\S1201236.doc