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Within the Community Reinvestment Area, the percentage of tax exemption on the increase in the assessed valuation resulting from improvements to commercial and industrial real property, and the term of such exemptions, shall be negotiated on a case-by-case basis in advance of construction or remodeling occurring according to the rules outlined in the Ohio R.C. 3735.67. The results of the negotiation, as approved by Council, will be set forth in writing, in a Community Reinvestment Area Agreement, as outlined in Ohio R.C. 3735.671. For residential property, a tax exemption on the increase in the assessed valuation resulting from improvements, as described in Ohio R.C. 3735.67, shall be granted upon proper application by the property owner and certification thereof by the designated Housing Officer for the following periods. Residential applications must be filed with the Housing Officer no later than six months after completion of construction.
(a) Up to ten years for the remodeling of multifamily residential dwellings containing more than two housing units, and treated as commercial, upon which the cost of remodeling is at least two thousand, five hundred dollars ($2,500), and the same shall be negotiated on a case-by-case basis. Residential properties with two units or less shall be excluded from this program.
(b) Up to twelve years for existing commercial and industrial facilities, and the same shall be negotiated on a case-by-case basis in advance of construction or remodeling.
(c) Up to fifteen years for new commercial or industrial facilities, and the same shall be negotiated on a case-by-case basis in advance of construction.
If remodeling qualifies for an exemption, during the period of the exemption, the dollar amount of the increase in market value of the structure shall be exempt from real property taxation. If new construction qualifies for an exemption, during the period of the exemption, the structure shall not be considered to be an improvement on the land on which it is located for the purpose of real property taxation.
(Ord. 96-165. Passed 11-19-96.)
All commercial and industrial projects are required to comply with the State application fee requirements of Ohio R.C. 3735.672(C) and the local annual monitoring fee of one percent of the amount of taxes exempted under the Agreement, which shall be a minimum of five hundred dollars ($500.00) and a maximum of two thousand, five hundred dollars ($2,500) annually.
(Ord. 96-147. Passed 10-15-96.)
There is hereby established a Community Reinvestment Area Housing Council, consisting of two members appointed by the Mayor, two members appointed by the City Council and one member appointed by the Greenville Planning Commission. The majority of the members shall then appoint two additional members. Terms of the members of the Housing Council shall be for three years. An unexpired term resulting from a vacancy in the Housing Council shall be filled in the same manner as the initial appointment was made.
(Ord. 97-123. Passed 9-2-97.)
A Tax Incentive Review Council shall be established pursuant to Ohio R.C. 5709.85 and shall consist of three representatives appointed by the Board of County Commissioners, two representatives of the City appointed by the Mayor, with the concurrence of City Council, the County Auditor or his or her designee, and a representative of each affected board of education. At least two members must be residents of the City of Greenville. The Tax Incentive Review Council shall make an annual review of all agreements involving the granting of exemptions for commercial or industrial real property improvements under Ohio R.C. 3735.671 and make written recommendations to the City Council, as to whether such agreements should be continued, modified or terminated, based upon the performance of an agreement.
(Ord. 97-123. Passed 9-2-97.)
The City Council reserves the right to re-evaluate the designation of the City of Greenville Downtown Community Reinvestment Area after December 31, 1996, at which time the City Council may direct the Housing Officer not to accept any new applications for exemptions as described in Ohio R.C. 3735.67.
(Ord. 96-147. Passed 10-15-96.)
The Community Reinvestment Area Housing Council shall make an annual inspection of the properties within the district 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. 96-147. Passed 10-15-96.)
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