(a) For purposes of fulfilling the requirements set forth in Ohio R. C. 3735.65 to 3735.70, inclusive, Council hereby establishes Community Reinvestment Area No. 1.
(b) The boundaries of Community Reinvestment Area No. 1 are set forth on the map attached to original Ordinance 1262, passed November 8, 1993. The boundaries of Community Reinvestment Area No. 1 shall include the 49.894 acre tract heretofore annexed to the Village, and the map attached to original Ordinance 1384, passed May 10, 1999, and made a part hereof, shall reflect the addition of the 49.894 acres to Community Reinvestment Area No. 1.
(c) Council finds that the area included within Community Reinvestment Area No. 1 is one in which housing facilities, commercial/industrial facilities or structures of historical significance are located, and that new construction and the repair of existing facilities or structures are not presently occurring at the fullest potential.
(Ord. 1262. Passed 11-8-93; Ord. 1384. Passed 5-10-99.)