(A) To seek the exemption provided by § 37.02, the corporation shall file an application for exemption with the city for each assessment year the corporation wants the exemption.
(B) The application shall be filed on or before March 1 of the assessment year for which the exemption is applied for, unless the property designated is acquired after March 1 and before July 1. If the property designated is acquired after March 1 and before July 1, the claim for that year shall be filed within 30 days after the date of acquisition.
(C) The application shall include the following information as applicable:
(1) A description of the property for which the exemption is requested;
(2) A description of the charitable purpose of the project and whether all or a portion of the property is being used for that purpose;
(3) A certification of income levels of low-income occupants;
(4) A description of how the tax exemption will benefit project residents;
(5) A description of the development of the property if the property is being held for future low-income housing development;
(6) A declaration certifying that the corporation has been granted exemption from income taxation under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3) or 501(c)(4) of the Internal Revenue Code; and
(7) A certification that the corporation meets the criteria provided for in § 37.02(A)(5).
(D) The applicant shall verify the information in the application by oath or affirmation.
(Ord. 2018-06, passed 9-10-2018)