(A) It is acknowledged that it is a proper public purpose of the State of Michigan and its political subdivisions to provide housing for low income citizens and to encourage the development of such housing by providing for a service charge in lieu of property taxes in accordance with Act 346. The village is authorized by Act 346 and this chapter to establish or change the annual service charge to be paid in lieu of taxes by any and all classes of housing exempt from taxation under Act 346 at any amount it chooses not to exceed the taxes that would be paid but for Act 346. It is further acknowledged that housing for low income persons and families is a public necessity, and as the village will be benefitted and improved by such housing, the encouragement of the same by providing certain real-estate tax exemptions for such housing is a valid public purpose; further, that the continuance of the provisions of this chapter for tax exemption and the service charge in lieu of taxes during the period contemplated in this chapter are essential to the determination of economic feasibility of housing developments which are constructed and financed in reliance on such tax exemption.
(B) The village acknowledges that T J Kalamink Creek Limited Dividend Housing Association Limited Partnership (the “Sponsor” as defined in § 37.04 of this chapter) has committed to rehabilitate, own and operate a housing development identified as “Kalamink Creek Apartments” on certain property located on 392 W. Grand River Avenue within the Village of Webberville, Michigan, which is legally described in § 37.04 of this chapter, to serve low income or moderate income persons, and that the sponsor has offered to pay and will pay to the village, on account of the housing development, an annual service charge for public services in lieu of all taxes.
(Ord. 216, passed 5-7-12)