The City Manager may grant a deferment of the annual installment payments due on special assessments for street and sidewalk improvements on homestead properties in case of hardship, subject to the following.
(A) The payment of special assessment installments may be deferred for owners who meet the terms and conditions of this section annually for a period not to exceed 20 years or until the property is sold or until 1 year after the owner's death; however, the death of a spouse shall not terminate deferral of an assessment on homestead property owned by a husband and wife. The gross amount of the annual special assessment installment eligible for deferment under this section shall not be less than $300.
(B) To receive deferment, the owner shall annually certify to the City Manager on or before July 1 that his annual household income does not exceed HUD Section 8 income limits for Eaton County for very low income families.
(C) The owner shall execute and deliver to the City Clerk a lien in recordable form in favor of the city indicating the amount of the annual special assessment deferred, plus interest as provided in subsection (D), and identifying the homestead.
(D) The payment of special assessment installments deferred under this section which are subsequently made by the owner or owner's estate shall include interest computed at the rate of .005% per month or fraction of a month.
(E) The City Treasurer shall not report as delinquent any special assessment installment which is deterred under this section for which a lien has been recorded in favor of the city, until such time as the term of the deferment expires as provided in division (A) above.
(F) A hardship deferment shall not be granted by the City Manager where the owner of homestead property is eligible for a deferment of special assessment on that homestead pursuant to Public Act 225 of 1976, being M.C.L.A. §§ 211.761 et seq.
(Ord. passed 11-24-2003; Am. Ord. passed 9-26-2005)