The Eugene City Council approved three Low Income Rental Housing Property Tax Exemptions (LIRHPTEs) on January 22, a decision that will contribute to the creation and preservation of 285 affordable housing units.
Adopted in 1990, the LIRHPTE program is a partnership between the City of Eugene and the 4J and Bethel school districts. It provides a 20-year property tax exemption for rental housing and limited equity cooperatives that serve households earning no more than 60% of the area median income (approximately $50,580 for a family of four). This critical tool supports the pressing and ongoing demand to create housing that is within financial reach for lower and moderate-income households in Eugene.
Annually, the City Council considers new and renewing LIRHPTE applications. Since its inception, LIRHPTEs have played a pivotal role in sustaining affordable rents for more than 1,600 rental units in Eugene. Furthermore, the exemption can be renewed, with over 400 units having had their LIRHPTEs renewed since the program's commencement, ensuring the preservation of affordability for an additional 20 years.
The most recent developments to be approved for the exemption include:
- Olive Plaza Senior Housing: An existing downtown development providing 149 low-income rental units for seniors.
- Reveille on Sixth: A new affordable housing project occupying a former hotel building. This development provides 66 low-income rental units and includes collaboration with community organizations and the Veterans Administration to provide studio and one-bedroom units for people exiting homelessness.
- Peace Village Housing Cooperative: A new low-income limited equity cooperative located on River Road. This cooperative consists of 70 homes collectively owned by its members, with a long-term lease on land owned by SquareOne Villages as a community land trust, ensuring long-term affordability.
For more information about the LIRHPTE and other local efforts to create stable, safe, and affordable housing opportunities in Eugene visit the city’s website.