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Item B: Multi-Unit Property Tax Exemption Program
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Item B: Multi-Unit Property Tax Exemption Program
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5/9/2013 2:35:14 PM
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Agenda Item Summary
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5/13/2013
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<br />Option 4: <br /> <br />Do not include in minimum threshold criteria, include in additional public benefit criteria <br /> <br /> <br /> <br />Financial Reporting <br /> <br />Objective: Collect reliable financial data during the tax exemption for the purpose of gauging <br />individual project performance and evaluating the need and effectiveness of the MUPTE program <br />implementing Envision Eugene. <br /> <br />Option 1: <br /> <br />Project required to submit annual, accountant-prepared financial statements that are reviewed <br /> <br />by staff. <br /> <br />Option 2: <br /> <br />Project required to submit annual, accountant-prepared annual financial statements that are <br /> <br />reviewed by staff and a review panel, or third party. <br />Option 3: <br /> <br />Option 1 or 2. Plus, for special cases in which financial disclosure is not available (ex. <br /> <br />institutional investors), applicant will have the option to shorten the exemption, or make <br />payments to the City. <br /> <br /> <br />Neighborhood Contact <br /> <br />Objective: Protect, repair, and enhance neighborhoods to ensure a high level of livability. <br /> <br />Option 1: <br /> <br />Prior to application, applicant must solicit comments from affected neighborhood organization <br /> <br /> <br />Option 2: <br /> <br />Do not include in minimum threshold criteria, include in additional public benefit criteria <br /> <br /> <br /> <br />Application Fee <br /> <br />Objective: Contribute to program administration and ongoing monitoring costs <br /> <br />Option 1: <br /> <br />$500 paid with application submission <br /> <br /> <br />Additional fee of 1/20 of 1% (.0005) of the project cost, not to exceed $10,000, paid at <br /> <br />completion of construction <br /> <br /> <br />
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