ORIGINALi
COOPERATION AGREEMENT
(Pope/Webster.Street Site Project)
THIS AGREEMENT entered into this 19th day of January ___ , 1983, by and between the Housing Authority of the City of Alameda, a Public Body, Corporate and Politic, (herein called the "Local Authority':) and the City of Alameda, a Municipal Corporation, (herein called the "Municipality"), witnesseth:
In consideration of the mutual c.ovenants 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 as an entity 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, how ever, any low-rent housing project covered by any contract-for loans and annual contributions entered into between the Local Authority and the Goverr1ment, 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.
2. The Local Authority shall endeavor (a) to secure a contract or contracts with the Government for loans and annual contributions covering the project which shall be comprised of approximately one hundred eighty-five (185) �· units of low rent housing for senior citizens in the area now known as the Pope/Webster Str.eet site of Makassar, at Webster Street near Pope and For4 Streets in Alameda, California, and {b) to develop and administer such Project which shall be located within the corporate limits of the Municipality as herein specified. The obligations of the parties hereto shall apply to such Project. �
3. (a) Under.the constitution and statutes of the State of California, all Projects are exempt from all real and personal property taxes and special assessments levied or imposed 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 sech Project or any monies due to the Government in connection with such Project remain unpaid whichever period is the longest, the Municipality 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 annua·1 payments {herein called "Payments in Lieu of_ Taxes'') in lieu of such taxes and special assessments and in payment for the public services and facilities furnished from time to time without other cost or charge for or with respect to such Project. -1-