[HISTORY: Adopted by the Township Board of the Charter Township
of Cascade as indicated in article histories. Amendments noted where
applicable.]
[Adopted 7-9-1979 by Ord. No. 2-1979 (Part 2 of the 1991
Compilation of Ordinances)]
The tax exemption established in Subsection (1) of Section 15(a)
of Act 346 of 1966, as amended [MSA 16.114(15a)][1] shall not apply to any class of housing projects within
the Charter Township of Cascade to which Subsection (1) of Section
15(a) of said Act applies except that class of rental housing for
lower income elderly families where financing has occurred, directly
or indirectly, under Section 8 of the United States Housing Act of
1937, as amended by the Housing and Community Development Act of 1974,
as amended.
[1]
Editor's Note: See MSLA § 125.1415a.
The tax exemption established in Subsection (1) of Section 15(a)
of Act 346 of 1966, as amended by Act No. 109 of the Public Acts of
1969, Public Acts of Michigan [MSA 16.114 (15a)], Michigan Compiled
Laws of 1970, § 125.1415(a), shall not apply to any class
of housing project within the boundaries of Charter Township of Cascade;
except that upon approval of the Township Board "consumer housing
cooperatives", "qualified nonprofit housing corporations" and "limited
dividend housing corporations" as these are defined in Act No. 343
of the Public Acts of 1968, as amended,[1] which are members of the class of housing projects defined
as rental housing for lower income elderly families where financing
has occurred, either directly or indirectly, under Section 8 of the
United States Housing Act of 1937, as amended by the Housing and Community
Development Act of 1974, as amended, shall have the tax exemption
provided in the above-mentioned Subsection (1) of Section 15(a) commencing
with the 1980 assessment roll during such period of time as the owner
of a housing project eligible for exemption shall have:
A.Â
Complied
with the statute;
B.Â
Paid all
taxes and assessments for the years at such times as the same shall
have been due and payable;
C.Â
Paid a
service charge equal to 4% of the contract rents of the preceding
calendar year as defined by the rules adopted pursuant to the United
States Housing Act of 1937, as amended by the Housing and Community
Development Act of 1974, as amended, exclusive of any charges for
gas, electricity, heat or other utilities furnished to the occupants
and exclusive of the service charge paid hereunder for the previous
calendar year.
[1]
Editor's Note: See MCLA § 125.1411.
