(A) The percentage of tax exemption on the increase in the assessed valuation resulting from improvements to qualified multi-family housing facilities shall be 50%. The percentage of tax exemption on the increase in the assessed valuation resulting from improvements to commercial office and industrial real property shall be negotiated and determined on a case-by-case basis in advance of commencement of construction, consistent with the guidelines set forth in Schedule 1 following the text of this chapter, as amended, all in accordance with Ohio R.C. 3765.67, and shall be set forth in writing in a CRA Agreement.
(B) There shall be no exemptions within the area for new residential construction, the remodeling or renovation of single-family housing facilities or commercial retail uses.
(Ord. 58-96, passed 7-22-1996)