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property tax exemption granted by this Resolution. If Phase 2 is not completed <br />within 36 months, the property owners may reapply for the tax exemption. <br /> <br />In no event will the total number of units for Phase 1 and Phase 2 exceed 375. <br /> <br />Ground floor commercial space may be included in either phase of the project. If <br />such commercial space is included, it shall be eligible for the tax exemption up to <br />5,000 square feet. <br /> <br />2. <br /> On-site management is required. On-site management functions shall include: <br />2.1 Maintaining leasing, property/resident management office on-site that is <br />staffed during normal working hours; <br />2.2 Have at least one employee residing on-site; <br />2.3 Have on-site one or more courtesy managers making nightly property <br />inspections; and <br />2.4 Providing information to residents about the sensitivities of neighboring <br />properties, including Olive Plaza, as part of the lease documents. <br /> <br />3. <br /> As part of Phase 1, a 20-foot wide right-of-way south of the existing West <br />th <br />12 Avenue right-of-way shall be dedicated and the following public <br />improvements shall be constructed: <br />(1) A 10-foot wide two-way bicycle facility that is clear of <br />obstructions and separated from pedestrians, within the new 20- <br />foot right-of-way; <br />th <br />(2) A bicycle crossing island at the intersection of West 12 Avenue <br />and Olive Street that prohibits left turns for automobiles; and <br />(3) A replacement crosswalk within Willamette Street that aligns the <br />proposed bicycle connection through the site with the existing <br />bicycle way east of Willamette Street. <br /> <br />4. <br /> Both phases of the project shall be completed on or before January 1, 2022. <br /> <br />5. <br /> The project shall be in conformance with all local plans and planning regulations, <br />including special or district-wide plans developed and adopted pursuant to ORS <br />Chapters 195, 196, 197, 215 and 227. <br /> <br />Section 2. <br /> Subject to the conditions in Section 1 of this Resolution, 100% of the <br />residential units and commercial space (up to 5,000 square feet) described in Section 1 are <br />declared exempt from local ad valorem property taxation beginning July 1 of the year following <br />issuance of a Certificate of Occupancy for each phase and continuing for a continuous period of <br />Resolution - Page 4 of 5 <br /> <br /> <br />