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F. <br /> Notwithstanding the recommendation to approve the application, the City Council <br />has determined that granting the application is not in the public interest. <br /> <br />NOW, THEREFORE, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a <br /> <br />Municipal Corporation of the State of Oregon, as follows: <br /> <br /> Section 1. <br />Having considered the above findings and the Report and Recommendation of <br />the Executive Director attached as Exhibit A, the City Council finds that it would not be in the <br />public interest to grant the application of Capstone Collegiate Communities, Inc., for an ad <br />valorem property tax exemption under the City’s Multiple-Unit Property Tax Exemption <br />Program for the residential units and commercial space to be constructed on the property <br />(Assessor’s Map 17-03-31-42; Tax Lots 700, 800, 900, 1000, 1100, 1200, 1600, 1700, 1800, <br />1900, 2000, 2100, 2200, 2300, and 2400). Therefore, the application is denied. <br /> <br />Section 2. <br /> The City Manager, or the Manager’s designee, is requested to forward a <br />copy of this Resolution to the applicant within ten days. <br />Section 3. <br /> This Resolution shall become effective immediately upon its adoption. <br /> <br />The foregoing Resolution adopted and effective the ____ day of _________, 2012. <br /> <br /> <br /> <br /> <br /> _______________________ ______ <br /> AIC City Recorder <br />Resolution - Page 2 of 2 <br /> <br />