(a) For the purposes of fulfilling the requirements set forth under Ohio R.C. 3735.65 to 3735.70, inclusive, Council hereby establishes Community Reinvestment Area No. 2.
(b) The boundaries of Community Reinvestment Area No. 2 are as follows:
(1) East part of Lot 2027.
(2) West part of Lot 2027.
(3) A parcel beginning at the southwest corner of Section 25, Town 4 North, Range 17 East, York Township, such point being the intersection of the centerlines of Township Road 191 (Gardner Road) and County Road 308 (Flatrock Road) thence north along the centerline of County Road 308 (Flatrock Road) a distance of 878.43 feet; thence N. 900 00' 00" E. 494.67 feet; thence S. 000 00' 00" W. 878.43 feet to the centerline of Township Rd. 191 (Gardner Road); thence S. 900 00' 00" W. 497.10 feet.
(c) Within Community Reinvestment Area No. 2 tax exemption 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 property 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.
(d) To administer and implement the provisions of this section the duly appointed Housing Officer of the City of Bellevue Community Reinvestment Area No. 1 shall also serve as Housing Officer for the City of Bellevue Community Reinvestment Area No. 2.
(e) The Clerk of Council shall forward a copy of this section to the Auditor of Sandusky County, Ohio for information and reference.
(f) Council finds that the area included in Community Reinvestment Area No. 2 contains housing facilities or structures of historical or architectural significance and wherein new housing construction and repair of existing facilities are discouraged.
(Res. 25-87. Passed 11-9-87.)