Notwithstanding Section 894.05, the service charge to be paid each year in lieu of taxes for the part of the housing development which is tax exempt and which is occupied by other than low or moderate income persons and 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.
The term “low income” as used herein shall be the same as found in Section 15(a)(7) of the Act.
(Res. 2017-408A. Passed 1-3-18.)