4/24/1980 - Laserfiche WebLink

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HUD -52481 COOPERATION AGREEMENT This Agreement entered into this 24th day of April 1980, by and between Indian River CountX Housing Authority (herein called the "Local Authority" and Indian River County (herein called the "County", witnesseth: In consideration of the mutual covenants hereinafter set forth, the parties hereto do agree as follows: 1. Whenever used in this Agreement: (a) The term "Project" shall mean any low -rent housing hereafter developed or acquired by the Local Authority with financial assistance of the United States of America acting through the Secretary of Housing and Urban Development (herein called the "Government"); excluding, however, any low -rent housing project covered by any contract for loans and annual contributions entered into between the Local Authority and the Government, or its predecessor agencies, prior to the date of this Agreement. (b) The term "Taxing Body" shall mean the State or any political subdivision or taxing unit thereof in which a Project is situated and which would have authority to assess or levy real or personal property taxes or to certify such taxes to a taxing body or public officer to be levied for its use and benefit with respect to a Project if it were not exempt from taxation. (c) The term "Shelter Rent" shall mean the total of all charges to all tenants of a Project for dwelling rents and nondwelling rents (excluding all other income of such Project), less the cost to the Local Authority of all dwelling and nondwelling utilities. (d) The term "Slum" shall mean any area where dwellings predominate which, by reason of dilapidation, overcrowding, faulty arrangement or design, lack of ventilation, light or sanitation facilities, or any combination of these factors, are detrimental to safety, health, or morals. 2. The Local Authority shall endeavor (a) to secure a contract or contracts with the Government for loans and annual contributions covering one or more Projects comprising approximately 116 units of low -rent housing and (b) to develop or acquire and administer such Project or Projects, each of which shall be located within the corporate limits of the County. The obligations of the parties hereto shall apply to each such Project. 3. (a) Under the constitution and statutes of the State of Florida , all Projects are exempt from all real and personal property taxes and special assessments levied or impos-ed by any -Taxing Body. With respect to any Project, so long as either (i) such Project is owned by a public body or governmental agency and is used for low -rent housing purposes, or (ii) any contract between the Local Authority and the Government for loans or annual contributions, or both, in connection with such Project remains in force and effect, or (iii) any bonds issued in connection with such Project or any monies due to the Government in connection with such Project remain unpaid, whichever period is the longest, the County agrees that it will not levy or impose any real or personal property taxes or special assessments upon such Project or upon the Local Authority with respect thereto. During such period, the Local Authority shall make annual payments (herein called "Payments in Lieu of Taxes") in lieu of such taxes and special assessments and IPPR 2 3 0 ea c 41, �PA� 01 s 3j