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Assessor’s Property Account Number 1837937), for one, two, and three bedroom units to be <br />constructed and offered at rents affordable to 60% of area median income. <br /> <br />Section 2. <br /> The land and residential units described in Section 1 above are declared <br />exempt from local ad valorem property taxation commencing July 1, 2013, and continuing for a <br />continuous period of twenty (20) years unless earlier terminated in accordance with the <br />provisions of Section 2.940 of the Eugene Code, 1971, which provides for termination after an <br />opportunity to be heard if: <br /> <br />2.1 Construction or development of the exempt property differs from the construction <br />or development described in the application for exemption, or was not completed by <br />January 1, 2020, and no extensions or exceptions were granted; or <br /> <br />2.2 The applicant fails to comply with provisions of ORS 307.515 to 307.523, <br />provisions of the Eugene Code, 1971, the Standards and Guidelines adopted by Council <br />Resolution No. 5028, or any conditions imposed in this Resolution. <br /> <br />The tax exemption shall be terminated immediately, without right of notice or appeal, pursuant to <br />the provisions of ORS 307.531 in the event that the county assessor determines that a change of <br />use to other than that allowed has occurred for the housing unit, or portion thereof, or, if after the <br />date of this approval, a declaration as defined in ORS 100.005 is presented to the county assessor <br />or tax collector for approval under ORS 100.110. <br /> <br />Section 3. <br /> The City Manager, or the Manager's designee, is requested to forward a copy <br />of this Resolution to the applicant within ten days from the date of adoption of this Resolution, <br />and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before <br />April 1, 2013. The copy of the Resolution sent to the applicant shall be accompanied by a notice <br />explaining the grounds for possible termination of the exemption prior to the end of the <br />exemption period and the effects of the termination. <br /> <br />Section 4. <br /> This Resolution shall become effective immediately upon its adoption. <br /> <br />th <br />The foregoing Resolution adopted the 26 day of November, 2012. <br /> <br /> <br /> <br /> <br /> _____________________________________ <br /> City Recorder <br />Resolution - Page 2 of 2 <br />