Las Vegas City Commission Minutes, January 7, 1947 to October 26, 1949, lvc000006-573

543 or deceased veterans and servicemen , which need is not being met by private enterprise; and WHEREAS, such a condition constitutes a menace to the health, safety, morals, and welfare of the inhabitants of the City of Las Vegas, Nevada; and WHEREAS, pursuant to Section l5(7)(a) of the United States Housing Act of 1937, as amended by the Housing Act of 1949, the Governing Body of the locality desires to approve the aforesaid application of the Housing Authority of the City of Las Vegas, Nevada; and WHEREAS, pursuant to Section l5(7)(b) of the United States Housing Act of 1937, as amended by the Housing Act of 1949, it is necessary that the City of Las Vegas enter into an agreement with the Housing Authority of the City of Las Vegas providing for local cooperation as a condition precedent to the making of any loan for development or for annual contributions: NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAS VEGAS, NEVADA: 1. That the Council of the City of Las Vegas, Nevada, does hereby approve the application of the Housing Authority of the City of Las Vegas, Nevada, to the Public Housing Administration for a preliminary loan in an amount not to exceed $52,000 to cover the costs of surveys and planning in connection with the development of not to exceed approximately 140 dwelling units of low-rent public housing in the City of Las Vegas. 2. That the City of Las Vegas shall enter into a Cooperation Agree­ment with the Housing Authority of the City of Las Vegas, Nevada, substantially in the following form, which said Agreement is hereby approved: COOPERATION AGREEMENT This Agreement entered into this ____day of , 19 , by and between the Housing Authority of the City of Las Vegas, Nevada (herein called the "Local Authority") and the City of Las Vegas, located in the State of Nevada (herein called the "City"), witnesseth: WHEREAS, the Local Authority is applying to the Public Housing Administration (herein called the "PHA") for a Program Reservation for 140 units of low-rent housing to be developed and located within the corporate limits of the City and may hereafter apply for additional Program Reservations; and WHEREAS, The Local Authority proposes to enter into one or more contracts with the PHA for loans and annual contributions in connection with the development and administration of such low-rent housing, all pursuant to the United States Housing Act of 1937, as amended (herein called the "Act"); and WHEREAS, the City is desirous of assisting and cooperating with the Local Authority in such undertakings and of complying with the provisions of Sections 10(a), 10 (h), and l5(7)(b) of the Act, as well as all other applicable provisions thereof: NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the Local Authority and the City do agree: 1. Whenever used in this Agreement: (a) The term "Project" shall mean any low-rent housing hereafter developed as one operation by the Local Authority with financial assistance of the PHA and included within any Program Reservations issued to the Local Authority by the PHA which in the aggregate may not exceed 140 units of low-rent housing. A Project will generally be located on a single site but may be on scattered sites. (b) The term "Taxing Body" shall mean the State or any political subdivision or taxing unit thereof (including the City) 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 non-dwelling 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" means 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 to secure a contract or contracts with the PHA for loans and annual contributions, and undertake to develop and administer one or more Projects. 3. Under the constitution and statutes of the State of Nevada, all Projects are exempt from all real and personal property taxes levied or imposed by any Taxing Body; and, with respect to any Project, so long as either (a) such Project is used for low-rent housing purposes, or(b) any contract between the Local Authority and the PHA for loans or annual contributions, or both, in connection with such Project shall remain in force and effect, or (c) any bonds Issued in connection with such Project shall remain outstanding, whichever period is the longest, the City agrees that it will not levy or impose any real or personal property taxes 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 in payment for public services and facilities furnished for or with respect to such Project. Each such annual Payment in Lieu of Taxes shall be made after the end of the fiscal year established for such Project, and shall be in an amount equal to either (a) ten per cent (10%) of the aggregate Shelter Rent charged by the Local Authority in respect to such Project during such fiscal year, or (b) the amount permitted to be paid by applicable state law in effect on the date of this Cooperation Agreement, whichever amount is the lower; provided, however, that upon failure of the Local Authority to make any such Payment in Lieu of Taxes, no lien against any Project or assets of the Local Authority shall attach.