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Home My WebLink AboutResolution No. 4486 RESOLUTION NO. 4C(ih A RESOLUTION APPROVING A MULTIPLE-UNIT RENTAL HOUSING PROPERTY TAX EXEMPTION FOR PROPERlY LOCATED AT 10TH AVENUE AND HIGH STREET (GUARD PUBLISHING COMPANY). The City Council of the City of Eugene finds that: A. The Guard Publishing Company is the owner of real property located at 10th Avenue and High Street, Eugene, Oregon, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, and has submitted an application pursuant to the City's Multiple-Unit Rental Housing Property Tax Exemption Program (Sections 2.945 and 2.947 of the Eugene Code, 1971) with respect to the improvements to be constructed thereon. B. The application has been reviewed by the appropriate City departments, and it has been recommended that the exemption be granted. C. The Director of Planning and Development, as designee of the City Manager has submitted a recommendation to the Council that the application be approved and the exemption granted. In making that recommendation, the Director found that as asserted in the application, the project would not be built without the benefit of the tax: exemption; that the proposed project is an eligible structure as defined in the Standards and Guidelines; is located within the project area; and the applicant has agreed to include within the project design elements of benefit to the general public extending beyond the period of exemption, as set forth in the Director's recommendation and hereafter. D. The project is in conformance with all applicable local plans and planning regulations and the Metropolitan Area General Plan. The applicant has submitted all materials, documents and fees required by the City and has complied with all provisions of the City's Standards and Guidelines for Processing Applications for Multiple-Unit Rental Housing Local Property Tax Exemption. E. The project includes a mix of residential and retail/commercial. Only the residential portion of the building qualifies for the tax exemption. NO~ THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CIlY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Section 1. Based upon the recommendation of the Director of Planning and Development, the above findings, and the hearing before the Council, the application of the Resolution - 1 Guard Publishing Company for a property tax exemption under the City's Multiple-Unit Rental Housing Property Tax Exemption Program for the residential portion of the improvements to be constructed upon the property located at 10th Avenue and High Street, Eugene, Oregon, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, be, and the same is hereby approved, subject to the following conditions: 1. The project shall be completed before July 1, 1998. 2. The project shall consist of 58 total residential rental units. 3. The project shall contain public benefits that include, but are not limited to: three spacious ground floor apartments that shall be handicap accessible, with all units designed as handicap adaptable; all units will be priced competitively with conventional suburban garden style units, adding a diverse group of residents to strengthen support for existing downtown businesses and services; the project shall be set back from the street approximately forty feet to insure the protection of large heritage trees on the property; public benches will be installed and maintained near the front of the building and close to the High Street bus stop; an exercise facility will be provided for tenants in the basement of the building; and the project shall include architecturally designed landscaping. The applicant shall pay the low income housing fee, which during years three through ten of the exemption period, will generate $6,360 annually for the City's low income housing fund. Section 2. That the rental housing improvements to be constructed upon the property described in Section 1 above are hereby declared exempt from local property taxation commencing July 1 of the year following certification of completion and continuing for a continuous period of 10 years unless earlier terminated in accordance with the provisions of Section 2.947 of the Eugene Code, 1971. The exemption provided for herein does not extend to the portion of the improvements designed and utilized for retail/commercial business. Section 3. The City Manager, or the Manager's designee, is requested to forward a copy of this Resolution to the applicant, and to the other taxing districts affected hereby within ten days from the date hereof, and to cause a copy of this Resolution to be filed with the Lane County Assessor on or before April 1, 1997. The foregoing Resolution adopted thel31b day of May, 1996. fl:~ ~Ily City R~order Resolution - 2 /........:.......................................,.'. " .' . ~ ,".- . , - ',> EXHIBIT A LEGAL DESCRIPTION MULLIGAN'S ADDITION ON THE EAST BLOCK 2 TAX LOT # 17-03-31-14 - LOT 9600 REPORT AND RECOMMENDATION of the Director of the Planning & Development Department The Guard Publishing Company Multiple-Unit Property Tax Exemption The Director of the Planning & Development Department of the City of Eugene finds that: 1. The Guard Publishing Company is the owner of real property located at 1 Oth Avenue and High Street, Eugene, Oregon, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, and has submitted an application pursuant to the City's Multiple-Unit Rental Housing Property Tax Exemption Program (Section 2.945 and 2.947 of the Eugene Code, 1971) with respect to the improvements to be constructed thereon. 2. I have reviewed the application and specifically find: 2.1 The applicant has submitted all materials, documents and fees required by the City; 2.2 Design elements that benefit the general public have been included in the project, which consists of: 2.2.1 Fifty eight residential units in the Eugene downtown core area priced competitively with conventional suburban garden style units. This will add a diverse group of people who will reside downtown, strengthening the support for existing downtown businesses and services; 2.2.2 The project will bring approximately three thousand square feet of retail/commercial business to downtown. The entire prime High Street frontage is designated for this use; 2.2.3 In addition to three ground floor spacious handicap accessible apartments, all units remaining will be designed as handicap adaptable; 2.2.4 The proposed project will be set back from the street approximately forty feet to insure the protection of the large heritage trees as outlined on the site plan; 2.2.5 Close to the High Street bus stop near the front of the building, public benches will be installed and maintained; 2.2.6 An exercise facility will be provided in the basement for tenants; 2.2.7 Architecturally designed landscaping will add curb appeal to the site and surrounding area; 2.2.8 The project reflects careful planning and superior architectural design. This will be a landmark building in downtown. 2.3 The project was monitored through the City's regular processes with respect to planning, permit and building and safety requirements to insure compliance with all local regulations; 2.4 There are no structures located on the property. Currently the site is paved and is being used as a parking lot; 2.5 The owner has agreed to pay the City's low income housing fee, which during the years three through ten of the exemption period will generate $6,360 annually for the City's low income housing fund; 2.6 The owner has stated in the application and provided evidence that the project would not be feasible without the tax exemption because the rent levels would need to be set at a rental rate higher than market. Also, even with the property tax exemption, the project will provide a marginal return on the owners investment. 2.7 The project consists of 58 total rental units. Therefore, based upon the above findings, the project is in conformance with all applicable local plans, planning regulations, the Metropolitan Area General Plan, and the criteria set forth in the City's adopted Standards and Guidelines for Multiple-Unit Rental Housing Property Tax Exemption, and I recommend that the application be approved. Dated this_day of , 1996 Director, Planning & Development Department, City of Eugene . , ,..j~iiD'::: Multi-Unit Property Tax Exemption Area Tax/ot base current as of Ju/y 1} 1992 .+. , Scale: 1 In = 750 ft