draft Community Authority- Hart5
I In order to provide for the District, the implementation of the Community Authority's New
. Community Development Program, and the establishment and payment of the Community
Development Charge, this Declaration is for the purpose of creating covenants running with the
land pursuant to which all persons now or hereafter having any right, title or interest in the
Property or any part thereof; including their respective heirs, personal and legal representatives
and their successors and assigns, shall acquire and hold such right, title or interest subject to the
. . Restrictions, including, but not limited to, the obligation of an Owner of each Chargeable Parcel to
pay the Community Development Charge applicable thereto. The Restrictions and this
Declaration are imposed for the benefit of the New Community District and the Community
Authority.
rI
\1
ARTICLE II
DEFINITIONS
,
In addition to the tenns defined elsewhere in this Declaration, as used in this Declaration
including the preambles, unless the context otherwise requires, the following words shall mean
respectively:
2.01. Additional Property. ''Additional Property'' means such other real estate in the
vicinity of the I nitial Property a s may be subjected to this Declaration pursuant to Article I II
hereof.
2.02. Assessed Valuation.
(a) ''Assessed Valuation'' means, as to any Chargeable Parcel with respect to
any year's budget for which the Community Development Charge is being
collected, an amount equal to the assessed valuation thereof (including the
buildings, structures and improvements thereon) listed on the tax duplicate
of the Auditor of Fairfield County, Ohio, for the preceding year and
disregarding any reductions pursuant to any applicable law for the purpose
of reducing real estate taxes for certain persons in the State of Ohio
(including but not limited to reductions for persons 65 years of age or older
pursuant to Section 2 of Article XII, Ohio Constitution, as the same may be
amended from time to time) except the reductions described in Section 5.05.
If by reason of any change of law, rate, or common level of assessment the
assessed valuation for purposes of the tax duplicate is to be detennined as an
amount which is less or more than thirty-five percent of true value of the
real property assessed, then ''Assessed Valuation'' shall mean the assessed
valuation shown on the duplicate adjusted to equal thirty-five percent of fair
market value. If the assessed valuation listed on the tax duplicate of the
Auditor of Fairfield County, Ohio, for the preceding year does not reflect
the completed value of a single family residence on a Parcel and a building
pennit for a single family residence has been issued by an governmental
authority for that Parcel, then, solely at the Board's discretion, ''Assessed
- 2 -.
By Webmaster III
I In order to provide for the District, the implementation of the Community Authority's New
. Community Development Program, and the establishment and payment of the Community
Development Charge, this Declaration is for the purpose of creating covenants running with the
land pursuant to which all persons now or hereafter having any right, title or interest in the
Property or any part thereof; including their respective heirs, personal and legal representatives
and their successors and assigns, shall acquire and hold such right, title or interest subject to the
. . Restrictions, including, but not limited to, the obligation of an Owner of each Chargeable Parcel to
pay the Community Development Charge applicable thereto. The Restrictions and this
Declaration are imposed for the benefit of the New Community District and the Community
Authority.
rI
\1
ARTICLE II
DEFINITIONS
,
In addition to the tenns defined elsewhere in this Declaration, as used in this Declaration
including the preambles, unless the context otherwise requires, the following words shall mean
respectively:
2.01. Additional Property. ''Additional Property'' means such other real estate in the
vicinity of the I nitial Property a s may be subjected to this Declaration pursuant to Article I II
hereof.
2.02. Assessed Valuation.
(a) ''Assessed Valuation'' means, as to any Chargeable Parcel with respect to
any year's budget for which the Community Development Charge is being
collected, an amount equal to the assessed valuation thereof (including the
buildings, structures and improvements thereon) listed on the tax duplicate
of the Auditor of Fairfield County, Ohio, for the preceding year and
disregarding any reductions pursuant to any applicable law for the purpose
of reducing real estate taxes for certain persons in the State of Ohio
(including but not limited to reductions for persons 65 years of age or older
pursuant to Section 2 of Article XII, Ohio Constitution, as the same may be
amended from time to time) except the reductions described in Section 5.05.
If by reason of any change of law, rate, or common level of assessment the
assessed valuation for purposes of the tax duplicate is to be detennined as an
amount which is less or more than thirty-five percent of true value of the
real property assessed, then ''Assessed Valuation'' shall mean the assessed
valuation shown on the duplicate adjusted to equal thirty-five percent of fair
market value. If the assessed valuation listed on the tax duplicate of the
Auditor of Fairfield County, Ohio, for the preceding year does not reflect
the completed value of a single family residence on a Parcel and a building
pennit for a single family residence has been issued by an governmental
authority for that Parcel, then, solely at the Board's discretion, ''Assessed
- 2 -.
By Webmaster III