(a) The Community Reinvestment Area No. 1 Housing Council shall be composed of seven members who shall be appointed in the following manner:
(1) Two members shall be appointed by the Mayor.
(2) Two members shall be appointed by Council.
(3) One member shall be appointed by the Planning Commission.
(4) Two members, who shall be residents within the area, shall be appointed by the foregoing five members.
(b) The terms of the members of the Housing Council shall be three years, commencing on January 1, 1984. An unexpired term resulting from a vacancy on the Housing Council shall be filled in the same manner as the initial appointment.
(Ord. 14-84. Passed 1-30-84.)
The Community Reinvestment Area No. 1 Housing Council shall make an annual inspection of properties within Community Reinvestment Area No. 1 for which an exemption has been granted under Ohio R.C. 3735.67. The Housing Council shall also hear appeals under Ohio R.C. 3735.70.
(Ord. 14-84. Passed 1-30-84.)
(Ord. 14-84. Passed 1-30-84.)
(a) For the purpose of fulfilling the requirements set forth in Ohio R.C. 3735.65 to 3735.70, inclusive, Community Reinvestment Area No. 1 is hereby established.
(b) The boundaries of Community Reinvestment Area No. 1 are fully set forth in Exhibit A attached to original Resolution 1-84, passed January 30, 1984, which Exhibit is hereby made a part of this section by reference.
(Res. 1-84. Passed 1-30-84.)
(Res. 1-84. Passed 1-30-84.)
(c) To administer and implement this section, the Manager or his or her designee, as specified in writing, is designated as the Housing Officer as described in Ohio R.C. 3735.65 and 3735.66.
(Res. 13-91. Passed 11-12-91.)
(Res. 13-91. Passed 11-12-91.)
(d) A copy of this section shall be forwarded to the County Auditor by the Director of Finance for information and reference.
(e) Council reserves the right to re-evaluate the designation of Community Reinvestment Area No. 1 after five years, at which time Council may direct the Housing Officer not to accept new applications for exemptions as described in Ohio R.C. 3735.67.
(f) Council finds that the area included in Community Reinvestment Area No. 1 is one in which housing facilities are located and new housing construction and repair of existing facilities or structures are discouraged.
(Res. 1-84. Passed 1-30-84.)
(Res. 1-84. Passed 1-30-84.)
(a) This policy is adopted to provide direction to the Housing Officer when administering CRA tax exceptions under the provisions of this Chapter and all qualifying activities as per Ohio R.C. 3735.67.
(b) It shall be the policy of the City to grant CRA tax exceptions for qualifying activities under this Chapter and Ohio R.C. 3735.67 based on the following formula:
(1) The following calculation is designed to define the maximum term for which any applicant company could qualify for abatement. The information needed is as follows:
A. The number of employees at the time of application, the total income of these employees, and the percentage of their work time spent in the City (if applicable);
B. The "'true value", for tax purposes, of the real estate to be abated.
(c) The process begins by calculating the annual real estate taxes foregone by granting the abatement. This number will become the denominator in the abatement calculation. The numerator in the calculation will be the annual income tax revenue that the City expects to receive from employment at the applicant company, as of the date of application, multiplied by fifteen (the maximum number of years that abatement could be granted). The result of this division will be a number that equates to the years it takes for breakeven between the real estate taxes foregone and the income taxes to be received. This result should be rounded down to the nearest whole number (year).
(d) The Housing Officer shall perform the preceding calculation for any individual applying for CRA tax exceptions to determine the length of the tax abatement. The minimum abatement period shall be five years and the maximum fifteen years. Tax exceptions for retail and qualifying housing improvements shall not exceed five years. The Housing Officer shall notify the applicant in writing of the number of years to be exempted based on this policy. Any aggrieved applicant may appeal the decision of the Housing Officer to the Council Economic Development Committee upon written request within ten days from the date of the notice of award.
(Res. 32-02. Passed 10-8-02.)
(Res. 32-02. Passed 10-8-02.)