This article shall remain in effect and shall not terminate so long as the housing development project continues to be used for low income persons as provided in this article, but not to exceed 50 years; provided, however, if construction of the housing development project does not commence within one year of the Authority's LIHTC April 1, 2017 funding round award date, which is anticipated to be on or about July 1, 2017, or if the sponsor materially changes the scope or purpose of the housing development project with the consent of the city, by and through its representatives, and in accordance with the requirements of law, this article shall automatically expire, terminate and be of no further effect.
(Ord. 2017-01, passed 2-27-2017; Ord. 2020-09, passed 12-14-2020)