Resolution No. 5057 - Laserfiche WebLink

Home Browse Search

Report & Recommendation of the Planning & Development Department Olive & 13` Student Housing Application for Multiple -Unit Property Tax Exemption The Executive Director of the Planning & Development Department of the City of Eugene Finds that: 1. Capstone Collegiate Communities (Capstone) intends to purchase the real property located between Olive and Willamette from just north of 12th to 13th Avenues and between Charnelton and Olive from 12th to 13th Avenues, Eugene, Oregon (Assessor's Map17- 03- 31 -42; Tax Lots 700, 800, 900, 1000, 1100, 1200, 1600, 1700, 1800, 1900, 2000, 2100, 2200, 2300, and 2400). Capstone 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 residential units to be constructed on the property. 2. As the City Manager's designee, I have reviewed the application and find that: 2.1 The project will be constructed in two phases. Phase 1 will include approximately 232 units with a total of approximately 790 bedrooms, 600 structured parking spaces and 48 surface parking spaces. Phase 2 will include approximately 142 units with a total of approximately 514 bedrooms and 430 structured parking spaces. The overall number of units will be between 350 and 375. The project may also include approximately 5,000 square feet of 0 ground floor commercial space. The project will include a new bicycle /pedestrian path that connects with the existing path along 12"' Avenue. Additional details on the path are in Section 2.6.2. Onsite management will be required during the MUPTE period even if the project is sold and Capstone is not retained as manager. Onsite management functions will include but are not limited to: 2.1.1 Maintaining leasing, property /resident management office onsite that is staffed by full -time and part-time mangers during normal working hours; 2.1.2 Having one or more employees residing onsite; 2.1.3 Having onsite courtesy managers making nightly property inspections; and 2.1.4 Providing information to residents about the sensitivities of neighboring properties, including Olive Plaza, as part of the lease documents. 2.2 Construction is expected to be complete on or before January 1, 2022. 2.3 The project is located in the downtown area described in subsection (2) of Section 2.945 of the Eugene Code, 1971. 2.4 The applicant submitted all materials, documents and fees required by the City as set forth in Section 2.945 of the Eugene Code, 1971, and the Standards and Guidelines for Multiple -Unit