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HomeMy WebLinkAboutResolution No. 4497 RESOLUTION NO. 4 <.(17 A RESOLUTION APPROVING A LOW-INCOME RENTAL HOUSING PROPERTY TAX EXEMPTION FOR PROPERTY LOCATED AT 5425 FOX HOLLOW ROAD, EUGENE, OREGON. (METROPOLITAN AFFORDABLE HOUSING CORPORATION). The City Council of the City of Eugene finds that: A. The Metropolitan Mfordable Housing Corporation is the owner of real property located at 5425 Fox Hollow Road, Eugene, Oregon, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, and has submitted an application pursuant to Subsection 2.939(2) of the Eugene Code, 1971 for an exemption from ad valorem taxes under the City's Low-Income Rental Housing Property Tax Exemption Program (Sections 2.937 and 2.940 of the Eugene Code, 1971). B. The Director of the Planning and Development Department, as designee of the City Manager has submitted a Report and Recommendation to the Council that the application be approved and the exemption granted. In making that recommendation, the Director found that the applicant submitted all materials, documents and fees required by the application and the City, including documentation that the housing units on the property were constructed after February 12, 1990, documentation that the required rent payment reflects the full value of the property tax exemption; documentation that the property is offered for rental solely as a residence for low-income persons; that the applicant is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4327 of the City Council, applicable local plans, planning regulations, and Metro Plan; and has executed the required Consent to Inspection of Premises and the Rent Regulatory Agreement, which agreement contains a provision requiring certification of income levels of low-income occupants; and is otherwise in compliance with the criteria for approval as set forth in Subsection 2.939(2) of the Eugene Code, 1971; all as set forth in the Director's Report and Recommendation. C. The project consists of the development of sixty (thirty duplex structures) low- income rental housing units (48 two-bedroom and 12 three-bedroom). All of the property will be used for the purpose of providing low-income rental housing. NO~ THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CIlY OF EUGENE, a Municipal Corporation of the State of Oregon, as follows: Resolution - 1 Section 1. Based upon the above findings, which are adopted herein, and the City Council's review of the Report and Recommendation of the Director of the Planning and Development Department, the City Council hereby approves the application of the Metropolitan Mfordable Housing Corporation for an ad valorem property tax exemption under the City's Low-Income Rental Housing Property Tax Exemption Program for the property located at 5425 Fox Hollow Road, Eugene, Oregon, as more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, subject to the following conditions: 1. approval. The project shall be completed within two years after the date of this 2. The project shall consist of sixty (thirty duplex structures) low-income rental housing units, (48 two-bedroom and 12 three-bedroom) and all of the property shall be used for the purpose of providing low-income rental housing. Section 2. That the land and the improvements constructed thereon as described in Section 1 above are hereby declared exempt from local ad valorem property taxation commencing July 1 of the tax year following certification of completion and continuing for a continuous period of twenty (20) years unless earlier terminated in accordance with the provisions of Section 2.940 of the Eugene Code, 1971. 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. (j~ The foregoing Resolution adopted the L day of July, 1996. ft- ~~Z:rder Resolution - 2 REPORT AND RECOMMENDATION of the Director of the Planning & Development Department Application of the Metropolitan Affordable Housing Corporation For Low Income Rental Housing Property Tax Exemption . (Section 2.937 to 2.940 of the Eugene Code, 1971) The Director of the Planning & Development Department of the City of Eugene finds that: 1. The Metropolitan Affordable Housing Corporation is the owner of real property located at 5425 Foxhollow Road, Eugene, Oregon, as more particularly described in its Application submitted pursuant to Subsection 2.939 (2) of the Eugene Code, 1971 for an exemption from ad valorem taxes under the City's Low Income Rental Housing Property Tax Exemption Program (Section 2.937 to 2.940 of the Eugene Code, 1971). 2. I have reviewed the application and specifically find: 2.1 The applicant has submitted all materials and documents required by the City, including but not limited to: 2.1.1 Documentation that the housing units on the property were constructed after 2/12/90; 2.1.2 Documentation that the required rent payment reflects the full value of the property tax exemption: 2.1.3 Documentation that the property is offered for rental solely as a residence for low-income persons; 2.2 The applicant is in compliance with the policies set forth in the Standards and Guidelines adopted by Resolution No. 4327 of the City Council and has previously executed the required Consent to Inspection of Premises, and Rent Regulatory Agreement, which contains a provision requiring certification of income levels of low-income occupants. 2.3 The property is otherwise consistent with provisions of the Eugene Code, 1971 and other adopted City policies and regulations. 2.4 The property consists of sixty (30 duplex structures) low-income rental housing units (48- 2bedroom and 12-3bedroom). All of the property will be used for the purpose of providing low-income rental housing. Therefore, based upon the above findings, the proposed 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 Low-Income Rental Housing Property Tax Exemption, and I recommend that the application be approved. Dated this ~ day of ~ 1996. ~4~_~ Director, Planning & Development (W Department, City of Eugene