(A) It is acknowledged that it is a proper public purpose of the State of Michigan and its political subdivisions to provide housing for its citizens of low income and to encourage the development of housing by providing for a service charge in lieu of property taxes in accordance with the State Housing Development Authority Act of 1966 (1966 Public Act 346, as amended, M.C.L.A. §§ 125.1401 et seq.). The city is authorized by this Act to establish or change the service charge to be paid in lieu of taxes by any or all classes of housing exempt from taxation under this Act at any amount it chooses not to exceed the taxes that would be paid but for this Act. It is further acknowledged that the housing for persons of low income is a public necessity, and as the city will be benefitted and improved by the housing, the encouragement of the same by providing certain real estate tax exemption for the housing is a valid public purpose; further, that the continuance of the provisions of this subchapter for tax exemption and the service charge in lieu of taxes during the period contemplated in this subchapter are essential to the determination of economic feasibility of housing developments which are constructed and financed in reliance on the tax exemption.
(B) The city acknowledges that Robert Hamlin has offered subject to receipt of a mortgage loan from the Michigan State Housing Development Authority, to erect, own and operate a housing development identified as Walnut Village South on certain property located at: a parcel of land in Private Claim 598, City of Marine City, St. Clair County, Michigan described as: Commencing at the intersection of the east line of Fractional Section 11 and the northerly line of Private Claim 598, thence south 0 degrees 02 minutes 30 seconds east 518.67 feet along the extension of the easterly line of fractional Section 11 to the point of beginning, thence south 64 degrees 38 minutes 47 seconds east 1228.12 feet to a point on the westerly line of Michigan State Hwy M-29 (66 feet wide) (said point being 33 feet westerly of the existing centerline of pavement), thence along the westerly line of M-29 south 38 degrees 14 minutes 44 seconds west 326.05 feet, thence north 64 degrees 38 minutes 47 seconds west 769.32 feet, thence south 25 degrees 21 minutes 13 seconds west 294.94 feet, thence north 64 degrees 38 minutes 47 seconds west 95.15 feet, thence north 0 degrees 02 minutes 30 seconds west 678.32 feet along the extension of the easterly line of fractional Section 11 to the point of beginning, containing 9.264 acres and being subject to easements and restrictions of record in the city to serve persons of low income, and that the sponsor has offered to pay the city on account of this housing development an annual service charge for public services in lieu of all taxes.
(Prior Code, § 13-87) (Ord. 86-2A1, passed 6-19-1986)