File #: 18-512    Version: 1
Type: Resolution Status: Agenda Ready
In control: City Council
On agenda: 11/26/2018 Final action: 11/26/2018
Title: Property tax exemptions for nonprofit owned low-income housing properties Ward(s): All Wards Councilor(s): All Councilors Neighborhood(s): All Neighborhoods
Attachments: 1. Resolution 2018-84, 2. 2019-20 Program Applications
Related files:

TO:                      Mayor and City Council   

THROUGH:                      Steve Powers, City Manager   

FROM:                      Kristin Retherford, Urban Development Director  

                                          

SUBJECT:

title

 

Property tax exemptions for nonprofit owned low-income housing properties 

 

Ward(s): All Wards    

Councilor(s): All Councilors    

Neighborhood(s):  All Neighborhoods    

end

 

ISSUE:

 

Shall City Council adopt Resolution No. 2018-84 approving property tax exemptions for seven nonprofit owned low-income housing properties?

 

 

RECOMMENDATION:

recommendation

 

Adopt Resolution No. 2018-84 approving property tax exemptions for seven nonprofit owned low-income housing properties. 

 

body

SUMMARY AND BACKGROUND:

 

Low-income housing is a community need identified in the City’s Strategic Plan. State statute and Salem Revised Code allow establishing a property tax exemption for qualified nonprofit owners of low-income housing. On January 8, 2018, Ordinance Bill Number 29-17 was enacted to establish a property tax exemption program to encourage low-income housing preservation and development by lowering costs for non-profit providers of low-income housing. 

 

Applications (Attachment 2) for this property tax exemption were received from:

 

Four Oaks Housing Limited Partnership

Wallerwood Limited Partnership

Salem Self Help Housing, LLC (two properties)

Cornerstone Apartments LP

Sunnyslope Manor Associates, Inc.

Oakhill Associates, Inc.

 

Staff has reviewed the applications and recommends approving property tax exemptions for each of the property owners. 

 

 

FACTS AND FINDINGS:

 

Theproperty owners completed the City’s application for this program and provided documentation that they meet the program’s requirements.

 

Following approval of these exemptions, the property owners will need to apply annually for recertification, provide documentation to support that the property is occupied by low-income persons, and show how the exemption will benefit project residents. As the preservation of low-income housing is a key component of the proposed program, the property must be maintained in a safe and habitable condition.

 

A public notification effort will be undertaken for subsequent application cycles for this program. Future application cycles will continue to occur annually during the summer with applications due prior to September 1 each year.

 

                     Renee K. Frazier     

                     Financial Services Manager 

 

Attachments:

1. Resolution No. 2018-84

2. 2019-20 Program Applications