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§ 35.66 LIMITATION ON THE PAYMENT OF ANNUAL SERVICE CHARGE.
   (A)    Notwithstanding § 35.64, the service charge to be paid each year in lieu of taxes for part of the housing development which is tax exempt but which is occupied by other than low income persons or families shall be equal to the full amount of the taxes which would be paid on that portion of the housing development if the housing development were not tax exempt.
   (B)   The term "low income persons or families" as herein shall be the same meaning as found in Section 15 (a)(7) of the Act.
(Ord. 336, passed 9-18-17; Am. Ord. 342, passed 3-4-19)
§ 35.67 PAYMENT OF SERVICE CHARGE.
    The annual service charge in lieu of taxes as determined under this subchapter shall be payable in the same manner as general property taxes except that the annual payment shall be paid on or before February 28 of each year. The sponsor shall submit a statement from its independent auditor verifying the amounts used to compute the payment are correct as reported. The statement and supporting documents may be from the sponsor's federal tax return.
(Ord. 336, passed 9-18-17; Am. Ord. 342, passed 3-4-19)
§ 35.68 DURATION.
    This subchapter shall remain in effect for a period of 15 years after the certificate of occupancy is obtained from the appropriate officials, so long as the housing development remains subject to income and rent restriction pursuant to Section 42 of the Internal Revenue Code of 1986, as amended.
(Ord. 336, passed 9-18-17; Am. Ord. 342, passed 3-4-19)