(a) For purposes of fulfilling the requirements set forth under Ohio R.C. 3735.65 through 3736.70 Council hereby establishes a Community Reinvestment Area.
(b) The boundaries of the Community Reinvestment Area are the corporate boundaries of the City and include all areas located within said boundaries.
(Res. R-25-94. Passed 6-27-94.)
(c) (EDITOR'S NOTE: Subsection (c) hereof was amended by Resolution R-48-94, passed January 23, 1995. Resolution R-48-94 was repealed by Ordinance 35-95, passed April 10, 1995. The repeal of a repealing provision of the Codified Ordinances does not revive the provision originally repealed. See Section 202.04(a) of the Administration Code.)
(d) (EDITOR'S NOTE: Subsection (d) hereof was amended by Resolution R-48-94, passed January 23, 1995. Resolution R-48-94 was repealed by Ordinance 35-95, passed April 10, 1995. The repeal of a repealing provision of the Codified Ordinances does not revive the provision originally repealed. See Section 202.04(a) of the Administration Code.)
(e) In the event that any applicant/recipient of the tax benefits available in the Community Reinvestment Area, prior to the expiration of the term for which the application was granted, vacates the project site or moves, relocates any material portion of its operations, fails to meet its job targets or ceases operations within the City as contemplated in its application for exemptions, then, any and all tax exemptions granted hereunder shall immediately cease. In addition thereto, the applicant/recipient shall forthwith repay any and all tax benefits received pursuant to its designation as an entity entitled to the benefits of the Community Reinvestment Area. In that event, the City may record a certificate of noncompliance with the Lorain County Recorders Office which shall serve, in addition to other remedies which may be available at law or in equity, as a lien or charge against the property until repayment of taxes has been made in full.
(f) To administer and implement the provisions of this section, the Building Inspector is hereby designated as the Housing Officer as described in Ohio R.C. 3735.69 and 3735.70.
(Res. R-25-94. Passed 6-27-94.)
(g) There is hereby established a Community Reinvestment Area Housing Council, which shall be composed of the following members:
(1) Two members appointed by the Mayor;
(2) Two members appointed by Council;
(3) One member appointed by the Planning Commission; and
(4) Two members, who shall be residents of the City, appointed by the majority of the foregoing members.
The Mayor is hereby authorized and directed to implement the establishment of the Housing Council consistent with the membership set forth herein.
The duties of the Housing Council shall be as set forth in Ohio R.C. 3735.69 and shall consist of an annual review and report to the State by March 31 of each year to assure that all projects that have been approved for exemptions within the area are in compliance with the provisions of this chapter and State law.
The Housing Council shall further act as a Tax Incentive Review Council, as required by law.
(Ord. 141-96. Passed 10-15-96.)
(h) A certified copy of this section will be forwarded to the County Auditor by the Clerk of Council for information and reference.
(i) Council reserves the right to re-evaluate the designation of the Community Reinvestment Area, after which Council will not consider any new applications and hereby directs the Housing Officer not to accept any new applications for exemptions as described in Ohio R.C. 3735.67.
(j) Council finds that the area included within the Community Reinvestment Area, as established in this section, is one in which housing facilities or structures of historical significance are located and new housing construction and repair of existing facilities or structures are discouraged.
(Res. R-25-94. Passed 6-27-94.)