MEMORANDUM

TO: Ron Long, Assembly President

Members, Kenai Peninsula Borough Assembly

FROM: Paul Fischer, Assembly Member

DATE: April 5, 2006

SUBJECT: Ordinance 2006-17, amending KPB 5.12.100 to exempt senior housing owned by the Ninilchik Senior Citizens, Inc. from real property taxation

Ninilchik Senior Citizens, Inc. is a nonprofit corporation that was formed in 1981 to provide services for the senior citizens in the community. The corporation has purchased property which it intends to develop to provide housing specifically designed to meet the needs of senior citizens. When the assembly enacted Ordinance 2005-40, it identified six senior citizen corporations whose property will be exempt from real property tax when it is used for senior citizen housing. If enacted, this ordinance would add Ninilchik Senior Citizens, Inc. to that list. It should be noted that the raw land would not be exempt but instead the exemption would apply once the land is developed to provide senior citizen housing. Thank you for your consideration.