(a) For the purpose of fulfilling the requirements set forth under Ohio R.C. 3735.65 to 3735.70, inclusive, Council establishes Community Reinvestment Area No. 1.
(Res. 9-78. Passed 9-11-78.)
(b) The boundaries of Community Reinvestment Area No. 1 are as follows:
(1) Beginning at a point on the east curb of Sheffield St. at East Main St.; thence proceeding in a northerly direction to the RR track; thence proceeding easterly on the south side of the RR track to the Corporation Line; thence proceeding north on the Corporation Line to Goodrich Road; thence east to include the acreage annexed in 1976 on the north side of Goodrich Rd. (Central Soya, Horns, Wolfe), and westerly along this North Corporation Line to a point north of the extension of the east curb of Buckeye St.; thence proceeding south from this point on the east curb of Buckeye St. to the north side of Moore Avenue; thence west on Moore Avenue to a point which would be in line with a northerly extension of Lyme St.; thence south from this point to the north curb of Sheridan St. at Lyme St. west on Sheridan St. along the north curb to the Sandusky St. west curb, and thence south on Sandusky St. to the north curb of Green St., west on Green St. to the east curb of Castalia St.; thence south on Castalia St. to a point in line with an easterly extension of Friedley Ave.
Thence west along this extension of Friedley Avenue to the east curb of Euclid Avenue, south on Euclid to the south curb of W. Main Street; thence west on W. Main St. to the east curb of Atwood Ter., south on Atwood Ter. to the northerly boundary of the Harmon Field site; thence easterly along the Harmon Field site to the rear boundaries of properties facing on Kilbourne Street, and thence southerly along these property lines to the south right-of-way boundary of the RR lines parallel to Wolfe St., east on the south edge of the RR lines to Heter St., south on Heter St. to the south curb of Gardner St., east on Gardner St. to Woodard St. and thence north to the south RR line right of way; thence east to the east curb of Southwest St. and thence south to the north curb of Cemetery St., east on Cemetery St. to the north curb of Dewey St.; thence proceeding easterly along Dewey St. to the west curb of McKim St.; thence proceeding north on McKim St. to the south boundary of the W & LE RR right of way; thence east to a point which would be made by a southerly extension of Gunther St., north from this point to the north curb of E. Main St. and Gunther St., west along the north curb of E. Main St. to the east curb of Sheffield Street.
(Res. 9-78. Passed 9-11-78.)
(2) For the purposes of fulfilling the requirements set forth under Ohio R.C. 3735.65 to 3735.70, inclusive, Council hereby extends Community Reinvestment Area No. 1 to include properties abutting the north side of West Main Street from the intersection of West Main Street and Euclid Avenue to the intersection of West Main Street and Greenwood Heights Boulevard.
(Res. 18-85. Passed 11-25-85.)
(c) Within Community Reinvestment Area No. 1 tax exemptions for improvements to real property as described in Ohio R.C. 3735.67 shall be granted for the following periods:
(1) Ten years for the remodeling of every dwelling containing not more than two family units upon which the cost of remodeling is at least two thousand five hundred dollars ($2,500) as described in Division (A) of Ohio R.C. 3735.67.
(2) Twelve years for the remodeling of every dwelling containing more than two units, and commercial or industrial properties, upon which the cost of remodeling is at least five thousand dollars ($5,000) as described in Division (B) of Ohio R.C. 3735.67.
(3) Fifteen years for the construction of every dwelling, commercial or industrial structure as described in Division (C) of Ohio R.C. 3735.67.
(Res. 14-85. Passed 9-23-85.)
(d) To administer and implement the provisions of this section, a Housing Officer is hereby designated as described in Ohio R.C. 3735.65-66.
(e) A copy of this section shall be forwarded to the Auditors of Huron and Sandusky Counties, Ohio, by the Council Clerk for information and reference.
(f) Council reserves the right to re-evaluate the designation of Community Reinvestment Area No. 1 after December 31, 1980, at which time Council may direct the Housing Officer not to accept any new applications for exemptions as described in Ohio R.C. 3735.67.
(g) Council finds that the area included within the foregoing description as Community Reinvestment Area No. 1 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. 9-78. Passed 9-11-78.)