[Code 1975, § 31-28; Code 1992, § 28-61]
The City acknowledges that the Pine Grove Gardens Limited Dividend Housing Association (sponsor) has offered, subject to receipt of a mortgage loan from the Authority, to erect, own and operate a housing development identified as Pine Grove Gardens Apartments on certain property on a ten-acre site on the east side of 24th Avenue in the City, as described in § 16-332, to partially serve persons of low income and that the owner has offered to pay the City on account of the lower income portion of such development an annual service charge for public services in lieu of all taxes.
[Code 1975, § 31-30; Code 1992, § 28-62]
It is hereby determined that the type of housing development to which the tax exemption shall apply and for which a service charge shall be paid in lieu of such taxes pursuant to this division shall be for as many as 20 of the units in the Pine Grove Gardens Housing Development which are specifically constructed for and occupied by lower income persons which are financed or assisted pursuant to the Act.
[Code 1975, § 31-31; Code 1992, § 28-63]
The housing development identified as the lower income units portion of Pine Grove Gardens Housing Development and the property on which it shall be constructed shall be exempt from all property taxes from and after the commencement of construction. The City, acknowledging that the sponsor and the Authority have established the economic feasibility of the housing development in reliance upon the enactment and continuing effect of this division and the qualification of the housing development for exemption from all property taxes and a payment in lieu of taxes as established in this division and in consideration of the sponsor's offer, subject to receipt of a mortgage loan from the Authority, to construct, own and operate such housing development, hereby agrees to accept payment of an annual service charge for public services in lieu of property taxes. The annual service charge for as many as 20 of the lower income units shall be equal to 10% of the annual shelter rents for those units.
[Code 1975, § 31-32; Code 1992, § 28-64]
The owner of the Pine Grove Gardens Housing Development shall, at least annually, certify to the City which units are occupied as lower income units and provide proof that occupants thereof meet the income requirements as established by the Department of Housing and Urban Development (HUD). The City shall, upon satisfying itself of the adequacy of such certification, exempt up to as many as 20 of the lower income units from all property taxes and accept payment in lieu of taxes as provided in this division.
[Code 1975, § 31-33; Code 1992, § 28-65]
The service charge in lieu of taxes as determined pursuant to this division shall be payable in the same manner as general property taxes are payable to the City.
[Code 1975, § 31-34; Code 1992, § 28-66]
This division shall remain in effect and shall not terminate so long as the mortgage loan remains outstanding and unpaid or the Authority has any interest in the property.
[Code 1975, § 31-35; Code 1992, § 28-67]
The property boundaries for which the tax exemption is allowed pursuant to this division shall be a parcel of land situated in the northwest 1/4 of Section 27, T 7N, R 17E, in the City, also including a part of lot 31, Roney's Hercules Plat (Liber 54, page 6, St. Clair County, register of deeds) situated in the west 1/2 of Section 27, T 7N, R 17E, Fort Gratiot Township, St. Clair County, Michigan, such parcel described as: beginning at a point on the west line of such Section 27 (24th Avenue (M-25) 120 feet wide) distant S 0° 34' 05" W 892.55 feet from the northwest corner thereof; thence continuing S 0° 34' 05" W 150.00 feet; thence S 89° 30' E 60.00 feet to a point on the west line of lot 31 (L. 54, p. 6), such point being distant S 0° 34' 05" W 54.74 feet from the northwest corner of such lot 31; thence extending S 89° 30' E 167.01 feet; thence S 0° 30' W 120.65 feet to the southwest line of the former C & O Railway; thence S 43° 05' 17" E 290.87 feet along such railway; thence N 46° 54' 43" E 439.00 feet; thence N 54° 47' 14" E 73.83 feet; thence N 61° 09' 09" E 73.75 feet; thence N 68° 16' 37" E 73.13 feet; thence N 68° 07' 18" E 185.27 feet; thence S 89° 33' 49" E 93.95 feet; thence N 0° 43' 30" E 290.0 feet to a point being distant S 0° 34' 05" W 605.00 feet from the north line of Section 27 and distant S 89° 33' 49" E 1143.35 feet from the west line of Section 27; thence N 89° 33' 49" W 743.35 feet parallel with such north line of Section 27; thence S 0° 34' 05" W 287.55 feet; thence N 89° 33' 49" W 460.00 feet to the west line of Section 27 and the place of beginning, which contains 10.513 acres more or less.
[Code 1975, § 31-36; Code 1992, § 28-68]
Notwithstanding the provisions of Section 15a(5) of the Act [MCL 125.1415a(5)] to the contrary, a contract between the City and the sponsor, with the Authority as third party beneficiary thereunder, to provide tax exemption and accept payments in lieu thereof as previously described is effected by enactment of the ordinance from which this division is derived.