HomeMy WebLinkAboutResolution No. 5054
RESOLUTION NO. 5054
A RESOLUTION APPROVING A MULTIPLE-UNIT PROPERTY TAX
EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 877 EAST PARK
STREET, EUGENE, OREGON (858 PEARL ST., LLC/APPLICANT).
The City Council of the City of Eugene finds that:
A.
858 Pearl St., LLC is the owner of real property located at 877 East Park Street, Eugene,
Oregon, more particularly described in Exhibit A attached to this Resolution, and has submitted an
application pursuant to the City’s Multiple-Unit Property Tax Exemption Program (Sections 2.945 and
2.947 of the Eugene Code, 1971), with respect to the rehabilitation of the existing building to include
residential units.
B.
The project, known as Park Place Apartments, consists of the development of ten studio
units; ten one-bedroom units; and four two-bedroom units, for a total of 24 residential units.
C.
The project is located within the boundaries of the downtown area as described in
subsection (2) of Section 2.945 of the Eugene Code, 1971.
D.
The project could not financially be built “but for” the tax exemption.
E.
The applicant solicited comments from city-recognized affected neighborhood
associations.
F.
The requirements in the Standards and Guidelines for Multiple-Unit Housing Property
Tax Exemptions adopted by Administrative Order Nos. 53-09-01-F and 53-11-05 related to proximity to
historic resources have been satisfied.
G.
The applicant has complied with the provisions of the Standards and Guidelines as
described in the Report and Recommendation attached as Exhibit B to this Resolution which was
prepared by the Executive Director of the Planning and Development Department (“the Executive
Director”) as designee of the City Manager.
H.
The project will be completed on or before January 1, 2022, and the owner has agreed to
include in the construction one or more public benefits.
I.
The proposed project will be at the time of completion, in conformance with all local
plans and planning regulations, including special or district-wide plans developed and adopted pursuant
to ORS chapters 195, 196, 197, 215 and 227, that are applicable at the time the application is approved.
J.
The project is not designed for, and will not be used as transient accommodations.
K.
Granting the application is in the public interest. In making this determination, the City
Council has considered the number of points awarded to the project based on the public benefit scoring
system contained in the Standards and Guidelines.
L.
The Report and Recommendation attached as Exhibit B recommends that the application
be approved and the exemption granted. In making that recommendation, the Executive Director found
that the applicant submitted all required materials, documents and fees as set forth in Section 2.945 of
the Eugene Code, 1971, and the Standards and Guidelines, and the applicant is in compliance with the
policies contained therein.
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 upon the above findings which are adopted, and the City Council’s review of
the Executive Director’s Report and Recommendation which is attached as Exhibit B, the City Council
approves the application of 858 Pearl St., LLC for an ad valorem property tax exemption under the
City’s Multiple-Unit Property Tax Exemption Program for the rehabilitation of the existing building
located at 877 East Park Street, Eugene, Oregon, more particularly described in Exhibit A, to include
residential units, subject to the following conditions:
1.
The project shall consist of the development of ten studio units; ten one-bedroom units;
and four two-bedroom units, for a total of 24 residential units.
2.
The project shall be completed on or before January 1, 2022.
3.
The project shall be in conformance with all local plans and planning regulations,
including special or district-wide plans developed and adopted pursuant to ORS Chapters
195, 196, 197, 215 and 227.
Section 2.
The residential units to be constructed on the property described in Section 1
above (100% of the increase in value of the building) is declared exempt from local ad valorem property
taxation beginning July 1 of the year following issuance of a Certificate of Occupancy and continuing
for a continuous period of ten years unless earlier terminated in accordance with the provisions of
Section 2.947 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 within ten days, and to cause a copy of this Resolution to be filed with
the Lane County Assessor on or before April 1, 2012.
Section 4.
This Resolution shall become effective immediately upon its adoption.
rd
The foregoing Resolution adopted and effective the 23 day of January, 2012.
//s// Beth Forrest
City Recorder
Resolution Exhibit A – Property Legal Description
EXHIBIT B