Within the Community Reinvestment Area, tax exemptions for improvements to real property, as described in Ohio R.C. 3735.67, will be granted for the following periods:
(a) 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 Ohio R.C. 3735.67(A).
(b) 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 Ohio R.C. 3735.67(B).
(c) Fifteen years for the construction of every dwelling, commercial or industrial structure, as described in Ohio R.C. 3735.67.
(Ord. 16-93. Passed 2-16-93; Ord. 144-93. Passed 12-21-93.)