Authorizing the Acceptance of Certain Payments in Lieu of Taxes from the United States of America

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- 3 - December following the completion of the Development. Thereafter, the Assessor shall be requested to evaluL'Othe property on the lst day of March of each year and such valuation shall be used in determining whether or not the payments in lieu of taxes for such year, but pay- able in the next succeeding year, exceed the amount that would have been received from taxes levied upon such property if it irrere not exempt from taxation. kFFor the purpose of evidencing compliance with the provisions of this Paragraph, the City will furnish the Administrator annually with a sworn statement as to the amount of evaluation of the Development as determined by the Assessor and as to the amount of the tax levy made for the City and all other taxing bodies, and the Administrator will furnish, with each payment, a statement showing the total income of the Development during the period for which the payment is made, together with the deductions from such income made for the purpose of determining the shelter rent and the amount of the shelter rentals charged for occupied units. For purposes of this Paragraph, shelter rent shall mean the charge established (or estimated) for the use of a dwelling excluding the furnishing of any utilities (i.e., water, heat, heating of water, light, cooking fuel, or refrigeration energy). 2. The 'amount to be paid annually by the Government - ouruuant to Paragraph 1 hereof shall be paid at the same time as ad valorem taxes are due the City. 3. The City agrees to furnish and charge for water at the published retail schedule, and to furnish and install the necessary extensions of mains, fire hydrants, corporation cocks and meters within each of the sites comprising the Development at no cost to the Government. It is understood that the City will provide water service to each of the sites comprising the Development in such.a manner that if either or both of said sites are, at some future date, converted into tow -rent housing projects (as defined in the United States Housing Act of 1837, as amended) the City will at that time permit the installation of a master meter or master meters on either or both of said sites, allowing water to be purchased at wholesale.