Item 7: Resolution Approving a Low-Income Rental Housing Tax Exemption - River Road

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ATTACHMENT C RESOLUTION NO. ______ A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR PROPERTY LOCATED ADJACENT TO 1410 RIVER ROAD, EUGENE, OREGON. (EVERGREEN HOUSING DEVELOPMENT / APPLICANT.) The City Council of the City of Eugene finds that: A. Evergreen Housing Development Group, LLC (the applicant), located at P.O. Box 31879, Seattle, Washington, 98103, has entered into Purchase and Sale Agreement with Schmitz Homeplace, LLC, for the acquisition of real property located adjacent to 1410 River Road, Eugene, Oregon, 97404 (Assessor’s Map 17-04-13-33; Tax Lot No. 04601; Assessor’s Property Account Number 1837937). The applicant has submitted an application pursuant to Subsection 2.939(2) of the Eugene Code, 1971, for an exemption from ad valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections 2.937 to 2.940 of the Eugene Code, 1971). B. The proposed development is expected to consist of 216 units to be constructed on the property at rents affordable to 60% of area median income. C. The Community Development Manager of the Planning and Development Department (the Manager), as designee of the City Manager, has prepared a Report and Recommendation, which is attached to this Resolution as Exhibit A, recommending that the application be approved and the exemption granted. In making that recommendation, the Community Development Manager found that the applicant submitted all materials, documents and fees required by the application and Section 2.938(1) of the Eugene Code, 1971, and is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 5028. In addition, as described more fully in Exhibit A, the applicant has complied with the criteria for approval provided in Section 2.939(2) of the Eugene Code, 1971. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Based upon the above findings, and the findings in the Manager’s Report and Recommendation attached as Exhibit A, the City Council approves the application of Evergreen Housing Development Group, LLC for an ad valorem property tax exemption under the City's Low-Income Rental Housing Property Tax Exemption Program for the property located adjacent to 1410 River Road, Eugene, Oregon, 97404 (Assessor’s Map 17-04-13-33; Tax Lot No. 04601; Resolution - Page 1 of 2