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REGULAR MEETING
<br />SEPTEMBER 10th, 1956
<br />Local Authority with financial assistance of the Public Housing Administration (herein called the "PHA ").
<br />(b) The term "Taxing Body" shall mean the State or any political subdivision or taxing unit thereof
<br />in which a Project is situated and which would have authority to assess or levy real or personal property
<br />taxes or to certify such taxes to a taxing body or public officer to be levied for its use and benefit
<br />with respect to a Project if it were not exempt from taxation.
<br />(c) The term "Shelter Rent" shall mean the total of all charges to all tenants of a Project for dwelling
<br />rents and non - dwelling rents (excluding all other income of such Project), less the cost to the Local
<br />Authority of all dwelling and non - dwelling utilities.
<br />(d) The term "Slum" shall mean any area GThere dwellings predominate which, by reason of dilapidation,
<br />overcrowding, faulty arrangement or design, lack of ventilation, light or sanitation facilities, or any
<br />combination of these factors, are detrimental to safety, health or morals.
<br />2. The Local Authority shall endeavor to secure a contract or contracts with the PHA for loans and annual
<br />contributions and undertake to develop and administer one or more projects,
<br />3. (a) Under the constitution and statutes of the State of Indiana, all projects a.r e exempt from all real
<br />and personal property taxes levied or imposed by any Taxing Body, `s,'ith respect to any,pr.oject, so long as
<br />either (i) such project is o?.med by a public body or governmental agency and is used for low -rent housing
<br />purposes, or (ii) any contract between the Local Authority and the PHA for loans or annual contributions,
<br />or both, in connection with such project remains in force and effect, or (iii) any bonds issued in con-
<br />nection with such project or any monies due to the PHA in connection with such project remains unpaid,
<br />whichever period is the longest, the Municipality agrees that it will not levy or impose any real or per-
<br />sonal property taxes upon such projects or upon the Local Authority with respect thereto. During such
<br />period, the Local Authority shall make annual payments (herein called "Payments in lieu of Taxes ") in lieu
<br />of such'taxes and.in payment for the public services and facilities furnished from time to time without
<br />' other cost or charge for or with respect to such projects.
<br />(b) Each such annual Payment in Lieu of Taxes shall be made after the end of the fiscal year estab-
<br />lished for such projects and shall be in an amount equal to either (i) ten per cent (10 %) of the aggregate
<br />Shelter Rent charged by the Local Authority in respect to such projects during such fiscal year, or (ii)
<br />_the amount permitted to be paid by applicable state law in effect on the date such payment is made, which-
<br />ever amount is the lower.
<br />(c) The Municipality shall distribute the Payments in Lieu of Taxes among the Taxing Bodies in the pro-
<br />portion which the real property taxes which would have been paid to each Taxing Body for such year if the
<br />projects were not exempt from taxation bears to the total real property taxes which would have been paid to
<br />all of the Taxing Bodies for such year if the projects were not exempt from taxation; Provided, however,
<br />that no payment for any year shall be made to any Taxing Body in excess of the amount of the real property
<br />taxes which would have been paid to such Taxing Body for such year if the projects were not exempt from
<br />taxation,
<br />(d) Upon failure of the Local Authority to make ant. payment in Lieu o.' Taxes, no 1ie.n 8lyinst any
<br />project or assets of the Local Authority shall attach, nor shall any interest or; penalties accrue or attach
<br />on account thereof.
<br />4. The Municipality agrees that, subsequent to the date of initiation (as defined in the United States
<br />Housing Act of 1937, , as amended) of said projects and within five (5) years after the completion thereof, or such
<br />further period as may be approved by the PHA, and in addition to the number of unsafe or insanitary dwelling units
<br />Which the Municipality is obligated to eliminate, there has been or will be elimination (as approved by the PHA)
<br />by demolition, condemnation, effective closing or compulsory repair or improvement, of unsafe or insanitary dwelling
<br />units situated in the locality or metropolitan area in which such projects are located, substantially equal in number
<br />to the number of newly constructed dwelling units provided by such projects; Provided, that, where more than one
<br />family is living in an unsafe or insanitary dwelling unit, the elimination of such unit shall count as the elimination
<br />of units equal to'the number of families accommodated therein; and Provided, further, that this paragraph 4 shall not
<br />apply in the case of (i) any project developed on the site of a S;um cleared subsequent to July I5, 1949, and that
<br />the dwelling units e1_iminated by the clearance of the site of such projects shall not be counted as elimination for
<br />any other project or any other low -rent housing project, or (ii) any project located in a rural non -.farm area.
<br />5. During the period commencing with the date of the acquisition of any part of the site or sites of any
<br />project and continuing so long as either (i) such projects are owned by a public body or governmental agency and are
<br />used for low -rent housing purposes, or (ii) any contract between the Local Authority and the PHA for loans or annual
<br />contributions, or both, in connection with suct projects remains in force and effect, or (iii) any bonds issued in
<br />connection with such projects or any monies due to the PHA in connection with such projects remains unpaid, whichever
<br />period is the longest, the Vunicipality without cost or charge to the Local Authority or the tenants of such projects
<br />(other than the Payments in Lieu of Taxes), shall:
<br />(a) Furnish or cause to be furnished to the Local Authority and the tenants of such projects, public
<br />services and facilities of the same character and to the same extent as are furnished from time to time with-
<br />out cost or charge to other dwellings and inhalgi.tants in the Municipality;
<br />(b) Vacate such streets, roads, and alleys within the area of such projects as may be necessary in the
<br />development thereof, and convey without charge to the Local Authority such interest as the Municipality may
<br />have in such vacated areas; and, insofar as it is lawfully able,to do so without cost or expense to the
<br />Local Authority or to the Municipality, cause to be removed from such vacated areas, insofar as it may be
<br />necessary, all public or private utility lines and equipment;
<br />(c) Insofar as the Municipality may lawfully do so, (i) grant such deviations from the building code
<br />of the Municipality as are reasonable and necessary to promote economy and efficiency in the development
<br />and administration of such projects, and at the same time safeguard health and safety, and (ii) make such
<br />changes in any zoning of the sites and surrounding territories of such projects as are reasonable and
<br />necessary for the development and protection of such projects and the surrounding territories;
<br />(d) Accept grants of easements necessary for the development of such projects; and
<br />(e) Cooperate with the Local Authority by such other lawful action or ways as the Municipality and the
<br />Local Authority may find necessary in connection with the development and administration of such projects.
<br />6. In respect to any projects the Municipality further agrees that within a reasonable time after receipt
<br />of a written request therefor from the Local Authority:
<br />(a) It will accept the dedication of all interior streets, roads, alleys, and adjacent sidewalks within
<br />the area of souh projects, together with all storm and sanitary sewer mains in such dedicated areas, after
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