It is hereby determined that the class of Housing Developments to which the tax exemption shall apply and for which a service charge shall be paid in lieu of such taxes shall be all units in the Senior Wedgewood Housing Development, owned, renovated, operated and developed by the Sponsor and rented to elderly or senior persons under provisions of the commitment for low income housing tax credits and the initial/original Mortgage Loan awarded to the Sponsor by the Authority.
It is further determined that the Wedgewood Apartment Development, as described and acknowledged in Section 4-13, is of this class. (Ord. O-07-04, 9-17-07)