Minutes - 19700504 - Laserfiche WebLink

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a BOOK ~ ~ 4GE `~~3 (b) Each such annual Payment in Lieu of Taxes shall bs made after the end of the fiscal year established for such Project, and shall be in an amount equal to either (i) ten per~snt (10~) of the Shelter Rent actually collected but in no event to exceed ten per cent (10~) of the Shelter Rent charged by the Local Authority in respect to auoh Project during such flsaal year or (ii) the amount permitted to be paid by applicable state law in effect on the date such payment is made, whichever amount is the lower. (c) The Municipality shall distribute the Payments in Lieu of Taxes among the Taxing Bodies in the proportion which the real property taxes which would have been paid to each Taxing Body for such year if the Project were not exempt from taxation bears to the total real property taxes which would have been paid to all of the Taxing bodies for such year if the Project were not exempt from taxation; Provided, however, That no payment for anq year shall be made to any taxing'Body in excess of the amount of the real property taxes which would have been paid to such Taxing Body for such year if the Project were not exempt from taxation. (d) Upon failure of the Local Authority to make any Payment in Lieu of Taxes, no lien against any Project or assets of the Local Authority shall attach, nor shall any interest or penalties accrue or attach on account thereof. !}. The Municipality agrees that, aubsenuent to the date of initiation (as defined in the United States Housing Act of 1937, as amended) of each Project and within five years after the completion thereof, or such further period as may be approved by the Government, there has been or will be elimination (as approved by the Government by demolition, condemnation, effective closing, or compulsory repair or improvement, of unsafe or insanitary dwelling units situated in the locality or metropolitan area in which auah Project is located, substantially eousl in number to the number of newly constructed dwelling units provided by such Project; Provided, That, where more than one family is living in an unsafe or insanitary dwelling unit, the elimination of ouch unit shall count as the elimination of units edual to the number of families accommodated therein; and Provided, further, That this paragraph 1{. shall not apply in the case of (i) any Project developed on the site of a slum cleared sub- , ssquent tv July 15, 191.9, and that the dwelling unite eliminated by the clearance of the site of such Project shall not be counted as elimination for anq other Project or any other low-rant housing project, or (ii) any Project boated in a rural nonfarm area, s• During the period cottanencing with the date of the acquisition of any part of the site or sites of~any Project and continuing so long as either (i) such ~ Project is owned by a public body or governmental agency and is used for low- I rent housing purposes, or (ii) any contract between the Loaa1 Authority and ~ the Government for loar_a or annual contributions, or both, in connection with such Project remains in force and effect, or (iii) any bonds issued in I connection with such Project or any monies due to the (}ovarnm®nt in connection with such Project remain unpaid, whichever period is the longest, the municipality without cost or charge to the Local Authnrity or the tenants of such Project (other than the Pagmenta in Lieu of Taxes) shall: ', (a) Punish or pause to be furnished to the Local Authority and the tenants of such Project public services and facilities of the same character and to the same extent as era furnished from time to time without cost or charge to other dwellings and inhabitants in the Municipality; (b) Vacate such streets, roads, and alleys within the area of such Project as may be nenessary in the development thereof, and convey without charge to the Local Authority such interest as the Municipality may have in such vacated areas; and, insofar as it is lawfully able to do so without cost or expense to the Local Authority or to the Municipality, cause to be removed from such vacated areas, insofar as it may be necessary, all public or private utility lines and equipment; (c) Insofar as the Municipality map lawfully do so, (i) grant such deviations from the building code of the Municipality as are reasonable and necessary to promote economy and efficiency in the development and administration of auah Project, and at the same time safeguard health and safety, and (ii) make auah changes in any zoning of the site and surrounding territory of auah Project as are reasonable and necessary for the development and protection of such r- Project and surrounding territcry; (d) Aooept grants of easements necessary far the development of such Project; and (e) Cooperate with the Local Authority by such other lawful action or ways as the Municipality and the Local Authority may find necessary in connection with the development and administration of such Prnjeat, ^