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LAWS OF MARYLAND

Ch. 8

(III)  THE REAL PROPERTY IS USED FOR A HOUSING
STRUCTURE OR PROJECT THAT:

1.  IS SUBSTANTIALLY CONSTRUCTED OR
REHABILITATED ON AND AFTER JULY 1, 1973; AND

2.  IS GOVERNMENTALLY CONTROLLED. AS TO
RENTS, CHARGES, RATES OF RETURN, AND METHODS OF OPERATION SO THAT
THE REAL PROPERTY OPERATES ON A NONPROFIT OR LIMITED DISTRIBUTION
BASIS; AND

(IV)  THE OWNER OF THE REAL PROPERTY AND THE
BALTIMORE CITY BOARD OF ESTIMATES AGREE ON THE PAYMENT THAT THE
OWNER SHALL MAKE TO BALTIMORE CITY IN LIEU OF BALTIMORE CITY
PROPERTY TAXES.

„ (4) IF THE STRUCTURE AND FACILITIES OF THE PROPERTY
ARE USED PREDOMINANTLY FOR RESIDENTIAL PURPOSES, THE REAL
PROPERTY MAY CONTAIN SERVICE FACILITIES TO SERVE ITS OCCUPANTS
AND THE SURROUNDING NEIGHBORHOOD.

(B)  WHEN EXEMPTION BEGINS.

REAL PROPERTY DESCRIBED IN SUBSECTION (A) OF THIS SECTION IS
EXEMPT FROM BALTIMORE CITY PROPERTY TAX AS THE PARTIES AGREE
UNDER SUBSECTION (A) OF THIS SECTION.

(C)  REPORT ON AGREEMENTS.

SUBJECT TO § 2-1312 OF THE STATE GOVERNMENT ARTICLE,
ANNUALLY ON OR BEFORE FEBRUARY 1, BALTIMORE CITY SHALL REPORT TO
THE GENERAL ASSEMBLY ON THE EFFECT AND OPERATION OF ALL
AGREEMENTS ADOPTED DURING THE PREVIOUS YEAR UNDER THIS SECTION.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, § 9(a)
and (o).

Subsection (a)(1) and (2) is revised as a definition
of "service facilities" and "urban renewal area",
respectively, for brevity.

In subsection (a)(2)(i) of this section, the former
reference to the Baltimore City Charter being the
"1964 revision" is deleted as superfluous.

Also in subsection (a)(2)(i) of this section, the
former word "approved", which modified "urban renewal
project", is deleted as confusing and, in any event,
superfluous.

In subsection (a)(3)(ii) of this section, the former
phrase "firm or corporation" is deleted as included in
the defined term "person".