This subchapter authorizes and approves an annual service charge in lieu of taxes for residential housing developments that:
(A) Serve low income or moderate income persons (as defined in the State Housing Development Authority Act, Public Act 346 of 1966, being M.C.L.A. §§ 125.1404 through 125.1499, s amended, and this subchapter);
(B) Are financed or assisted by USDA-RD or the Authority in accordance with Public Act 346 of 1966, being M.C.L.A. §§ 125.1404 through 125.1499;
(C) Are located within the city; and
(D) Comply with this subchapter.
(Ord. 334, passed 2-13-2012)