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<br />.. <br /> <br />services such as heat, water, electricity, gas, sewage disposal or garbage remova:, and <br />excluding all other income of the FAHIP U1I1it. <br /> <br />2. The Metropolitan Council shall endeavor to: <br /> <br />(a) Secure a contract or contracts with the Government for capital grants and am:ual <br />contributions for the F AHP Units; and <br /> <br />(b) Acquire or develop and administer the FAHP Units. <br /> <br />3. The Metropolitan Council and the Municipality agree: <br /> <br />(a) Pursuant to Minnesota Statutes section 469.040, and applicable federal laws and <br />regulations, including Title 24 Code of Federal Regulations section 941.20 1 (d), each <br />F AHP Unit is exempt from all real and personal property taxes levied or imposed by <br />any Taxing Body for so long as either: (i) the F AHP Unit is owned by a public bocy or <br />governmental agency and is used for housing as defmed in Title 42 United States Code <br />section 1437a(b)(I); (ii) any contract between the MetmpoHtaJ1 Council and ilie <br />Government in connection with the F AHP Unit remains in force and effect; or (iii) any <br />bonds issued in connection with the F AHIP Unit or any momes due to the Government <br />in connection with the F AHP Unit remain unpaid, whichever period is the longest (the <br />"Exemption Period"). <br /> <br />(b) During the Exemption Period, the Municipality, on behalf of all Taxing Bodies, agrees <br />that it will not levy or impose any real or personal property taxes upon a F AHP UI:it OJ <br />upon the Metropolitan Council with respect to the F AHP Unit. <br /> <br />( c) During the Exemption Period, the Metropolitan Council shall make, or cause tc be <br />made, payments in lieu of taxes ("Payments in Lieu of Taxes") in payment for the <br />public services aJld facilities furnished from time to time without other cost or charge <br />for or with respect to each F AHP Unit. Each Payment in Lieu of Taxes shall be made <br />at the time when real property taxes on a F AHP Unit would be paid if the F AHP Unit <br />were subject to taxation, and shall be in an amount equal to ten percent (10%) of the <br />Shelter Rent charged with respect to the F AHP Unit during the preceding calendar year. <br />A Payment in Lieu of Taxes for a F A.HJP> Unit may not exceed! the amount which would <br />be payable in taxes if the F AHP Unit were not exempt from real or personal property <br />taxes. <br /> <br />(d) Pursuant to Minnesota Statutes section 469.040, subdivision 3, the County w:t:hin <br />which a F AHJP> Unit is located shall distribute the Payments in Lieu of Taxes among the <br />Taxing Bodies in the proportion which the real pmperty taxes which would have been <br />paid to each Taxing Body for such year if the F AJf-J!P Unit were not exempt from <br />tax.ation bears to the total real property taxes which would have been paid to all of ~e <br />Taxing Bodies for such year if the FAHP Unit were not exempt from taxation; <br />provided, however, that no payment for any year shall be made to any Taxing Body in <br />excess of the amount of the real property taxes which would have been paid to such <br />Taxing Body for such year if the F AHP Unit were not exempt from taxation. <br /> <br />Page 2 of 4 Pages <br />