Laserfiche WebLink
property owner, the council may, by resolution, extend the deadline for <br />completion of construction of multiple -unit housing for a period not to <br />exceed 12 consecutive months, if it finds the failure to complete <br />construction by the time specified in the resolution was due to <br />circumstances beyond the control of the owner, and that the owner had <br />been and could reasonably be expected to act in good faith and with <br />due diligence. <br />(6) In any event, no multiple -unit housing granted an exemption by the <br />council may be exempt from ad valorem taxation for more than 10 <br />successive years. The first year of exemption is the assessment year <br />beginning January 1 immediately following the calendar year in which <br />construction, addition or conversion is completed, determined by that <br />stage in the construction process when, pursuant to ORS 307.330 the <br />improvement would have gone on the tax rolls in the absence of the <br />exemption. The exemption may not include the land, nor any <br />improvements located thereon that are not a part of the multiple -unit <br />housing but may include commercial use of a portion of the structure <br />and parking constructed as part of the multiple -unit housing <br />construction, addition or conversion, and is in addition to any other <br />exemption provided by law. However, no property may be exempt <br />beyond 100 percent of its real market value. <br />(7) Any exemption granted by the council shall terminate immediately, <br />without right of notice or appeal, in the event the county assessor <br />determines that a change of use to other than residential or residential <br />with commercial uses of a portion of the structure, or housing has <br />occurred for the multiple -use housing, or portion thereof, or if a low <br />income housing assistance contract with an agency or subdivision of <br />this state or the United States is breached or terminated prematurely, or <br />a declaration as defined in ORS 100.005(12) is presented to the county <br />assessor or tax collector for approval in connection therewith. <br />Termination shall be in accordance with the provisions of ORS 307.627. <br />Section 2 . Applications submitted or approved pursuant to Sections 2.945 and <br />2.947 of the Eugene Code, 1971, prior to the effective date of this Ordinance, shall be <br />governed by the Code provisions that were in effect prior to the effective date of this <br />Ordinance. <br />Section 3 . The City Recorder, at the request of, or with the consent of the City <br />Attorney, is authorized to administratively correct any reference errors contained herein, <br />Ordinance -- Page 6 of 7 <br />