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Section 2 . Subject to the conditions in Section 1 of this Resolution, 100% of the <br />residential units and commercial space (up to 5,000 square feet) described in Section 1 are <br />declared exempt from local ad valorem property taxation beginning July 1 of the year following <br />issuance of a Certificate of Occupancy and continuing for a continuous period of ten years unless <br />earlier terminated in accordance with the provisions of Section 2.947 of the Eugene Code, 1971. <br />Section 3 . The City Manager, or the Manager's designee, is requested to forward a <br />copy of this Resolution to the applicants within ten days, and to cause a copy of this Resolution <br />to be filed with the Lane County Assessor on or before April 1, 2014. <br />Section 4 . This Resolution shall become effective immediately upon its adoption. <br />The foregoing Resolution adopted and effective the day of , 2013. <br />City Recorder <br />Resolution - Page 4 of 4 <br />