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Section 2. Subject to the conditions in Section | of this Resolution, 100Y6 of the <br />residential units and commercial space (up to 5,000 mguurc feet) described in Sect l are <br />declared exempt from local ad valorem property taxation beginning July I 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 `s designee, is requested lo forward <br />copy of this Resolution to the applicants within ten days, and N cause ocopy of this Resolution <br />to be filed with the Lane County Assessor onm before April l,2O\4. <br />Section 4. This Resolution sha become effective immediately upon its adoption. <br />6 LiL L,� <br />City Recorder <br />Resolution ' Page 4o[4 <br />