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the State Legislature. A property tax exemption plays a very significant role in reducing rents. In the <br />past, the City has documented the monthly savings as a result of the exemption ranging from $89.00 per <br />month to $178.00 per month at different developments. This makes a significant difference in the <br />budget for a low-income household. <br /> <br />Financial and/or Resource Considerations <br />The City and other local taxing districts forgo revenue when property is exempted from taxes. Each of <br />these projects represents new construction on previously undeveloped property. Therefore, the <br />immediate loss of revenue is minimal. <br /> <br />Other Background Information <br />The following is a summary of the three projects requesting assistance: <br /> <br />A. Apple Orchard Village <br /> 40 units, primarily for families with children <br /> 2640-2694 Edgewood Drive <br /> Metropolitan Affordable Housing Corporation <br /> <br />B. Santa Clara Plaza <br /> 60 units, primarily for families with children <br /> 150 Santa Clara Avenue <br /> St. Vincent dePaul <br /> <br />C. Willamette Gardens Apartments <br /> 240 units for households of various sizes <br /> 433 West 8th Avenue <br /> Public Private Partnerships (P3) <br /> <br />Since 1992, the City has approved twelve low-income housing tax exemptions. Two are for-profit <br />developments and ten are non-profit developments. These include: <br /> <br /> · Mary Skinner Apartments, 41 units (St. Vincent dePaul) <br /> · Hope Loop, 10 units (St. Vincent dePaul) <br /> <br /> · Mac McDonald 24 units (St. Vincent dePaul) <br /> · Woodleaf, 60 units (Metropolitan Affordable Housing) <br /> · 1080 ClarkStreet, 40 units (DennisMeili) <br /> · 2256-2264 Roosevelt, 24 units (Charles Shepard) <br /> <br /> · South Hilyard Terrace, 22 units (St. Vincent dePau0 <br /> · OakwoodManor, 72 units (St. Vincent dePau0 <br /> · Greenleaf Village, 34 units (Metropolitan Affordable Housing) <br /> · Oakleaf Village, 14 units (Metropolitan Affordable Housing) <br /> <br /> · Aurora Building, 54 units (St. Vincent DePau0 <br /> · Mainstream Apartments, 10 units (Mainstream Housing) <br /> <br />Projects developed by the Lane County Housing Authority and Community Services Agency (HACSA) <br />receive an automatic tax exemption under a different State statute. This tax exemption levels the <br />playing field between the non-profit and public sector housing providers. To date, City Council has <br />granted all applications for exemptions. <br /> <br /> L:\CMO\2004 Council Agendas\M040809\S0408094.doc <br /> <br /> <br />