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Home My WebLink About7/27/16 PowerPoint - Granite Properties MUPTE: Granite Properties CITYOFEUGENE JULY27,2016 Today MUPTEProgramReview OliveLoftsOverview PublicBenefitCriteria PanelRecommendation Discussion MUPTEProgramReview 10yearproperty taxexemption Newmultiunit housing Downtownplan area 2015MUPTE Studenthousingineligible Increasedrequiredenergyefficiency Higherqualitydesign Expandedneighborhoodinvolvement Moderateincomehousingcontribution Localeconomicimpactplan Demonstratedprojectneedwithconsultant Communitymemberthirdpartyreview ThirdPartyReview MUPTEReviewPanel 2atlargeneighborhoodrepresentatives 2NeighborhoodRepresentativesfrom projectlocation 6TechnicalRepresentatives FinancialConsultant ApplicationProcess 30Day NeighborhoodFinancialMUPTE Comment ContactConsultantReviewPanel Period PostApprovalCompliance Design Neighborhood MUPTEReview Required Reviewed Contact Panel Documentation Against x2 x2 Resolution PublicBenefitRequirements CompactUrbanDevelopment GreenBuildingFeatures LocalEconomicImpact ModerateIncomeHousingContribution ProjectDesign&Compatibility Historic&ExistingHousingSensitivity ProjectFinancialNeed ProjectSummary OliveLofts 5stories 4housingfloors Groundfloor commercial FormerRogue PublicHouse AgencyProperty th 8AVENUE Agency Former Rogue Parcel Parcel RequiredPublicBenefits CompactUrbanDevelopment C3MajorCommercialZone Nominimumresidentialdensity 257unitsperacre RequiredPublicBenefits GreenBuildingFeatures 10%betterthanrequiredbycode RequiredPublicBenefits LocalEconomicImpactPlan Estimated80%of dollarstostaylocal Ensureopportunitiesfor Minority,Women,and EmergingSmallBusinesses Complywithwage,tax, andlicensinglaws RequiredPublic Benefits ModerateIncome HousingContribution Minimumof30%of unitswillqualifyas moderateincomeunits (plansfor100%) RequiredPublicBenefits ProjectDesign&Compatibility Scale,form,qualityofbuilding Mixtureofprojectelements Relationshiptostreetand surroundinguses ParkingandCirculation Materials Fibercement Wood Glass Concrete Stucco Wood Glass Storefront Top Middle Base Largewindows Canopies Tallfirstfloor RequiredPublicBenefits Context RequiredPublic Benefits Historic&Existing HousingSensitivity Noimpact RequiredPublicBenefits ProjectFinancialNeed Independentfinancialconsultant Proformaassumptions Projecthasdemonstratedneed PanelRecommendation Meetspublicbenefitcriteria Demonstratedprojectneed ApproveMUPTE 10years(majorityrecommendation) o 5years(minorityrecommendation) o IFCouncilApprovesMUPTEͶ DesignSubmittedforReview City&NeighborhoodReview BuildingPermitApplication Submitrequireddocumentation Construction Submitrequireddocumentation MUPTEReviewPanel Exemptionstarts CityağƓğŭĻƩ͸ƭRecommendation Approvalbasedon: EnvisionEugene1,000unitdowntowngoal ReviewtğƓĻƌ͸ƭrecommendation Consultantsfinancialreview Publicbenefits Projectmerits ForgoneTax:$617,000