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ATTACHMENT E <br />Denial Resolution <br />RESOLUTION NO. <br />A RESOLUTION DENYING A MULTIPLE -UNIT PROPERTY TAX <br />EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 505 EAST <br />BROADWAY, EUGENE, OREGON (CORE CAMPUS /APPLICANT). <br />The City Council of the City of Eugene finds that: <br />A. Venator Investments LLC (P.O. Box 1202, Clatskanie, Oregon) is the owner of <br />real property located at 505 East Broadway, Eugene, Oregon (Assessor's Map Number 17 -03- <br />32-23, Tax Lots 1800 and 2300) and John and Gretchen Cetaras Revocable Trust (P.O. Box 68, <br />Rumsey, California) is the owner of real property located at 505 East Broadway, Eugene, Oregon <br />(Assessor's Map Number 17- 03- 32 -23, Tax Lot 1900) ( "the property "). <br />B. CORE Campus (2234 West North Avenue, Chicago, Illinois) has submitted an <br />application pursuant to the City's Multiple -Unit Property Tax Exemption Program (Sections <br />2.945 and 2.947 of the Eugene Code, 1971), with respect to residential units and commercial <br />space to be constructed on the property. <br />C. The project as proposed consists of the development of 19 studio units, 44 one - <br />bedroom units, 44 two - bedroom units, 25 three- bedroom units, 42 four - bedroom units, and 21 <br />five- bedroom units, for a total of 197 residential units. In addition, the project will include 4,430 <br />square feet of commercial space. <br />D. The project is located within the boundaries of the downtown area as described in <br />subsection (2) of Section 2.945 of the Eugene Code, 1971. <br />E. The Report and Recommendation of the Executive Director of the Planning and <br />Development Department, as designee of the City Manager, attached as Exhibit A to this <br />Resolution recommends that the application be approved and the exemption granted. In making <br />that recommendation, the Executive Director found that the applicant submitted all required <br />materials, documents and fees as set forth in Section 2.945 of the Eugene Code, 1971, and the <br />Standards and Guidelines, and the applicant is in compliance with the policies contained therein. <br />F. Notwithstanding the recommendation to approve the application, the City Council <br />has determined that granting the application is not in the public interest. <br />Resolution - Page 1 of 2 <br />