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(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)
The terms used within this chapter shall have the following meanings:
ACT. The State Housing Development Authority Act, being Act 346 of the Public Acts of Michigan of 1966, as amended.
ANNUAL SHELTER RENTS. The total actual collections during each calendar year from all occupants of a housing development representing rents or occupancy charges, which rental amounts shall be exclusive of charges for gas, electricity, heat, or other utilities furnished to the occupants.
AUTHORITY. The Michigan State Housing Development Authority.
CLASS. The housing development known as Kalamink Creek Apartments for low income or moderate income persons.
CONTRACT RENTS. As defined by the U. S. Department of Housing and Urban Development in regulations promulgated pursuant to the U. S. Housing Act of 1937, as amended.
FEDERALLY-AIDED MORTGAGE. Any of the following:
(1) A mortgage insured, purchased, or held by the Secretary of the Department of Housing and Urban Development (“HUD”) or United States Department of Agriculture – Rural Development (“USDA-RD”);
(2) A mortgage receiving interest credit reduction payments provided by the HUD or USDA – RD;
(3) A housing development to which the authority allocates low income housing tax credits under Section 22b of the Act; or
(4) A mortgage receiving special benefits under other federal law designated specifically to develop low and moderate-income housing, consistent with the Act.
HOUSING DEVELOPMENT. A development which contains a significant element of housing for persons of low income and such elements of other housing, commercial, recreational, industrial, communal, and educational facilities as the authority determines to improve the quality of the development as it relates to housing for persons of low income. For the purposes of this chapter, HOUSING DEVELOPMENT means Kalamink Creek Apartments located on the property legally described as:
THAT PART OF THE NW ¼ OF SECTION 11, T3N, R2E, VILLAGE OF WEBBERVILLE, MICHIGAN DESCRIBED AS: COMMENCING AT THE NORTH ¼ CORNER OF SAID SECTION 11; THENCE S00°22'20" E 2159.30 FEET ALONG THE N-S ¼ LINE OF SAID SECTION 11 TO A POINT ON THE NORTH RIGHT OF WAY LINE OF GRAND RIVER AVENUE; THENCE N88°04'30" W 180.00 FEET ALONG SAID RIGHT OF WAY LINE TO THE POINT OF BEGINNING OF THIS DESCRIPTION; THENCE CONTINUING N88°04'30"W 459.00 FEET ALONG SAID RIGHT OF WAY LINE; THENCE N00°22'20"W 250.00 FEET PARALLEL WITH SAID N-S ¼ LINE; THENCE S88°04'30"E 459.00 FEET PARALLEL WITH SAID RIGHT OF WAY LINE; THENCE S00°22'20" E 250.00 FEET PARALLEL WITH SAID N-S ¼ LINE TO THE POINT OF BEGINNING.
LOW INCOME OR MODERATE INCOME PERSONS. Shall be as defined in the Act, as amended.
SPONSOR. Persons or entities which have applied to the authority for the tax credits to finance a housing development. For the purposes of this chapter, the sponsor is T J Kalamink Creek Limited Dividend Housing Association Limited Partnership.
TAX CREDITS. The low income housing tax credits made available by the authority to the sponsor for rehabilitation of the housing development by the sponsor in accordance with the low income housing tax credit program administered by the authority under Section 42 of the Internal Revenue Code of 1986, as amended.
USDA-RD. The United States Department of Agriculture, Rural Services Division.
UTILITIES. Fuel, water, sanitary sewer service and/or electrical service, which are paid by the housing development.
(Ord. 216, passed 5-7-12)
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