Item A: Multi-Unit Property Tax Exemption Program

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2. It is important to the community to preserve the housing as low income housing and it is probable that the housing would not be produced as or remain low income housing without the exemption being granted; (j) The multiple -unit housing is not designed for, and will not be used as transient accommodations; and (k) Granting the application is in - the public interest. In making this determination, council shall consider, among other things, the number of points awarded based on the public benefit scoring system contained in the standards and guidelines. (7) Unless the council makes each of the findings required by subsection (6) of this section, the council shall deny the application. In addition to the owner's name and address, and a legal description or the assessor's property account number for the subject multiple -unit housing, the resolution approving the application shall contain the above findings and set forth the specific conditions of approval or exclusions therefrom and specify the percentage and duration of the exemption. A resolution denying an application shall set forth the specific reasons for denial. (8) The city manager shall forward to the applicant a copy of the resolution adopted by the council within 10 days from the date the council acts on the application, and on or before April 1 following approval, shall file with the county assessor a copy of - the resolution approving an application. (9) With respect to an application deemed approved through inaction of the council under subsection (4) of this section, on or before April 1 following the expiration of the 180 -day period, the city manager shall file with the county assessor an administrative order containing the same findings and information as required to be set forth in a resolution approving an application and forward a copy thereof to the applicant. (10) In the case of a structure to which stories or other improvements are added or a structure that is converted in whole or in part from other use to dwelling units, only the increase in value attributable to the addition or conversion may be exempt from taxation. (11) Notwithstanding subsection (6) of section 2.947 of this code, if the multiple -unit housing is or becomes subject to a low income rental assistance contract with an agency of this state or the United States, the city may extend the exemption through June 30 of the tax year during which the expiration date of the contract falls. 2.947 Multiple -Unit Housina - Termination of Aauroval. Review. (1) After a resolution approving an application has been filed, if the city manager finds that: (a) Construction of multiple -unit housing was not completed within the time specified in the resolution, and no extensions as provided in subsection (5) hereof have been granted, or Ordinance -- Page 4 of 7