Housing developments for which construction or rehabilitation was initiated after January 1, 1990 but prior to January 1, 2002 and which are currently exempt from taxation and which are already making annual service charge payments pursuant to Ordinance 430-12-97 shall not be affected nor shall the terms of the tax exemption and annual service charge payments for those housing developments be changed by reason of the passage of this chapter. The cooperation agreement between the City of Big Rapids and the Big Rapids Housing Commission establishing payments in lieu of taxes for Housing Commission properties developed prior to 1990 is ratified and affirmed.
(Ord. 490-02-02, passed 2-18-02; Am. Ord. 566-05-06, passed 5-15-06)