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The service charge in lieu of taxes as determined under this article shall be payable in the same manner as general property taxes are payable to the city except that the annual payment will be paid on or before August 31 each year.
(1993 Code, § 64-8) (Ord. passed 8-12-2002(2); Ord. 2017-01, passed 2-27-2017; Ord. 2020-09, passed 12-14-2020)
This article 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; provided, that construction of the housing development commences within one year from the effective date of this article.
(1993 Code, § 64-9) (Ord. passed 8-12-2002(2); Ord. 2017-01, passed 2-27-2017; Ord. 2020-09, passed 12-14-2020)
The various sections and provisions of this article shall be deemed to be severable, and should any section or provision of this article be declared by any court of competent jurisdiction to be unconstitutional or invalid the same shall not affect the validity of the article as a whole or any section or provision of this article other than the section or provision so declared to be unconstitutional or invalid. It is hereby amplified that it is the city's intent to accept a payment in lieu of taxes only for the purpose of a senior development. If the property is ever used for another purpose, or if this article is unacceptable to any state agencies, this article is declared null and void.
(1993 Code, § 64-10) (Ord. passed 8-12-2002(2); Ord. 2017-01, passed 2-27-2017; Ord. 2020-09, passed 12-14-2020)
ARTICLE II. EDMOND
SENIOR APARTMENTS ON
SOUTH WASHINGTON STREET
SOUTH WASHINGTON STREET
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