A. If the City determines that property that has received an exemption under this chapter in anticipation of future development of low-income housing is being used for any purposes other than the provision of low-income housing, or that any provision of this chapter is not being complied with, the City must give notice of the proposed termination of the exemption to the owner by mailing the notice to the last known address of the owner, and to every known lender by mailing the notice to the last known address of every known lender. The notice must state the reasons for the proposed termination and require the owner to appear at a specified time, not less than 20 days after mailing the notice, to show cause, if any, why the exemption should not be terminated.

B. If the owner fails to appear and show cause why the exemption should not be terminated, the City must notify every known lender, and must allow any lender not less than 30 days after the date the notice of failure to appear and show cause is mailed to cure any noncompliance or to provide adequate assurance to the governing body that all noncompliance shall be remedied.

C. If the owner fails to appear and show cause why the exemption should not be terminated, and the lender fails to cure or give adequate assurance of the cure of noncompliance, the City Council must adopt a resolution stating its findings that terminate the exemption. A copy of the resolution must be filed within 10 days after its adoption with the County Assessor, and a copy must be sent to the owner at the owner’s last known address and to the lender at the last known address of the lender within 10 days of its adoption.

D. Pursuant to ORS 307.548(4), upon the County Assessor’s receipt of the governing body’s termination findings, the exemption granted to the housing unit or portion under this chapter terminates immediately, without right of notice or appeal and the provisions of ORS 307.548(4) apply to taxation of the property. [Ord. NS-2446, 2022]