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the exemption by resolution (Attachment B). A decision to deny the exemption cannot be made by <br />simple motion or inaction; it would need to be made by a resolution (Attachment C) that explains how <br />the applicant has failed to demonstrate that the tax exemption is in the public interest. <br /> <br />Summary of requested tax exemption for Stellar Apartments <br />- The requested tax exemption is for <br />Stellar Apartments, a 54-unit affordable housing development providing rental housing to individuals <br />and families earning at or below 50 percent of the Area Median Income. The development is located at <br />1535-1563 City View Street. The development site is close to shopping, jobs, public transit, schools, city <br />parks, and other services. Stellar Apartments includes a large community center and garden, children’s <br />play area, and ample bike parking. <br /> <br />SVDP proposed the Stellar Apartments project through the 2010 Annual Housing Request for Proposals. <br />In September, 2010, the council unanimously awarded SVDP federal HOME funds provided by the City <br />($860,000) and Systems Development Charge waivers ($60,000) to subsidize development of the <br />project. SVDP was also awarded the Westmoreland Landbank site through the process. At that time, <br />SVDP notified the City that it would seek a property tax exemption in order to achieve rents affordable <br />to low-income persons. Construction of Stellar Apartments will be completed by July 31, 2013, and <br />tenants will move in shortly thereafter. A grand opening event will be held summer 2013. <br /> <br />The requested exemption meets the substantive criteria [EC 9.239(2)(a)-(i)] as shown in the Report and <br />Recommendation (Attachment A). <br /> <br /> <br />RELATED CITY POLICIES <br />The proposed tax exemption supports multiple City priorities and policies including the Eugene- <br />Springfield 2010 Consolidated Plan, Growth Management Policies, Envision Eugene, and the Housing <br />Dispersal Policy. <br /> <br />Eugene-Springfield 2010 Consolidated Plan <br /> -This plan identifies a need for affordable housing for <br />low-income persons and sets a five-year goal of developing 500 new units of affordable housing. The <br />proposed project directly supports the objective by creating 54 units for low-income families and <br />individuals. <br /> <br />Eugene Adopted Growth Management Policies <br /> - The City of Eugene affordable housing development <br />programs and Stellar Apartments support multiple Growth Management Policies including: <br /> <br /> <br />Promote construction of affordable housing. <br /> <br /> <br />Encourage in-fill, mixed-use, redevelopment, and higher density development. <br /> <br /> <br />Improve the appearance of buildings and landscapes. <br /> <br /> <br />Provide for a greater variety of housing types. <br /> <br />Envision Eugene Plan <br /> – This plan identifies strategies and goals (pillars) that help the City of Eugene <br />plan for growth over the next 20 years. The Envision Eugene proposal’s Housing Affordability Pillar <br />includes strategies to meet the growing and changing housing needs of Eugene residents by supporting <br />subsidized affordable housing projects. Continuing to provide property tax exemptions to low-income <br />rental housing developments has been identified as an action to help successfully implement this <br />strategy. <br /> <br /> <br />S:\CMO\2012 Council Agendas\M120723\S1207232D.doc <br />