The tax exemption shall commence on the last day of the calendar year in which the city issues its certificate of occupancy as described in § 32.05 and shall thereafter remain in effect for 30 years; provided, however, that renovation of the housing development commences within two years from the effective date of this subchapter and that the sponsor is not in default of the annual service charge.
(Ord. 110613-1, passed 6-13-11)