§ 35.27  DURATION.
   The provisions of this subchapter shall become effective upon acquisition of the development by the owner and shall remain in effect for a period of 30 years and shall not terminate as long as the mortgage loan remains outstanding and unpaid and the authority or sponsor or HUD have any interest in the property, provided that the rehabilitation of the housing development is completed within one year from the effective date of this subchapter.
(Ord. 174, passed 4-11-2011)