HomeMy WebLinkAboutResolution No. 4825COUNCIL RESOLUTION NO. 4825
A RESOLUTION EXTENDING THE COMPLETION DATE
FOR CONSTRUCTION OF RESIDENTIAL UNITS
GRANTED A MULTIPLE-UNIT PROPERTY TAX
EXEMPTION UNDER RESOLUTION NO. 4815. (1375
OLIVE, LLC).
PASSED:
REJECTED:
OPPOSED:
ABSENT:
CONSIDERED: February 14, 2005
RESOLUTION NO. 4825
A RESOLUTION EXTENDING THE COMPLETION DATE FOR
CONSTRUCTION OF RESIDENTIAL UNITS GRANTED A MULTIPLE-
UNIT PROPERTY TAX EXEMPTION UNDER RESOLUTION NO. 4815.
(1375 OLIVE, LLC).
The City Council of the City of Eugene finds that:
A. On November 22, 2004, the City Council adopted Resolution No. 4815 approving
a multiple-unit property tax exemption for the construction of residential units at 1375 Olive
Street, Eugene, Oregon. That Resolution required construction to be completed by January 1,
2006.
B. Subsection (5) of Section.2.947 of the Eugene Code, 1971 authorizes the Council
to extend the deadline for completion of construction of multiple-unit housing for an additional
12 consecutive months if it finds that the failure to complete construction by the time specified in
the resolution approving the tax exemption was due to circumstances beyond the control of the
owner, and that the owner had been acting in good faith and with due diligence.
C. Although the property owner, 1375 Olive, LLC, expects to begin construction in
February of 2005, it has advised that it is not likely that construction of the residential units can
be completed by January 1, 2006, and has requested an extension to January 1, 2007. The
Council finds that the property owner has been acting in good faith and with due diligence, and
the inability to meet the January 1, 2006 construction deadline is due to circumstances beyond its
control.
NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EUGENE, a
Municipal Corporation of the State of Oregon, as follows:
Section 1. Based on the above findings which are adopted, 1375 Olive, LLC is granted
an extension to January 1, 2007, in which to complete construction of the residential units for
which a property tax exemption was granted under Resolution No. 4815 on November 22, 2004.
Section 2. The City Recorder is requested to forward a copy of this Resolution to 1375
Olive, LLC, and to append a copy of this Resolution to Resolution No. 4815.
Section 3. This Resolution shall become effective immediately upon its adoption.
The foregoing Resolution adopted and effective the 14th day of February, 2005.
City Recoiqler
Resolution- 1