(1)
The provisions of ORS 307.600 to 307.637 are hereby adopted to stimulate the construction, or addition of or conversion to multiple-unit housing in the designated core area of the City and in transit-oriented areas; and it is found that multiple-unit housing meeting the qualifications of ORS 307.606(4) would not otherwise be built in the designated areas without the benefits provided by ORS 307.600 to 307.637.
(2)
The tax exemption may be approved for up to 10 consecutive years beginning July 1 of the tax year after completion of construction.
(3)
The City Council shall adopt standards and guidelines via resolution.
(4)
Staff shall provide reports for the City Council no less than every five years analyzing the impacts of the Multi-Unit Property Tax Exemption. The City Council may call for a public meeting to consider whether this chapter should be amended or repealed.
(Ord. 6069, 11/5/2025)