120.01  ALPHA COMMUNITY REINVESTMENT AREA.
   (a)   Based upon the recommendations and upon said housing, survey, and on this Council’s own knowledge of the facts and conditions existing in the Alpha Community Reinvestment Area, Council hereby finds and determines that: the Alpha Community Reinvestment Area is an area in which housing facilities are located and new housing construction and repair of existing facilities or structures is discouraged; that Alpha Community Reinvestment Area qualifies, and is hereby established and designated as a Community Reinvestment Area pursuant to and in accordance with, and meeting the requirements of Sections 3735.65-.70 of the Ohio Revised Code; and that the boundaries of Alpha Community Reinvestment Area shall be as shown and described on Exhibit A attached to Ordinance 11-1994 and made a part hereof. 
(Ord. 11-1994.  Passed 3-14-94.)
   (b)   (1)   Council hereby directs the Director of Finance to serve as the City's "Housing Officer" for the Alpha Community Reinvestment Area, and authorizes and directs the Housing Officer to receive applications for agreements ("CRA Agreements") for tax exemption for construction and/or remodeling of commercial and industrial structures within the Alpha Community Reinvestment Area, and to make such required written notification thereof to the Board of Education of the Mayfield City School District and any other agency, if required; and
      (2)   Council hereby authorizes and directs the Housing Officer to receive applications for real property tax exemptions, and to make any required written notification thereof to the Board of Education of the Mayfield City School District and any other agency, if required; and to grant real property tax exemptions in accordance with CRA Agreements approved by this Council.
      (3)   Council further authorizes the Housing Officer to make annual inspections of properties within said Area for which exemptions have been granted, and otherwise to administer the requirements of the Community Reinvestment Area program.
   (c)   Within said Alpha Community Reinvestment Area, new construction and/or remodeling of commercial or industrial structures (but not including single or multi-family residential structures) are hereby declared to be a public purpose and exempt from real property taxation in accordance with Ohio R.C. 3735.67, as follows:
      (1)   In the case of construction of a structure that qualifies for exemption, the percentage (not to exceed 100%) of the assessed value of the structure as set forth in a CRA Agreement approved by this Council in accordance with Ohio R.C. 3735.671 shall be exempt from real property taxation;
      (2)   In the case of remodeling of a structure that qualifies for exemption, the percentage (not to exceed 100%), as set forth in a CRA Agreement approved by this Council pursuant to Ohio R.C. 3735.671, of the amount by which the remodeling increased the assessed value of the structure, shall be exempt from real property taxation.
      (3)   The term of the tax exemption shall be for the term specified in the CRA Agreement approved by this Council in accordance with Ohio R.C.3735.671, but not to exceed the following:
         A.   Up to 12 years for remodeling commercial or industrial properties, and upon which the cost of remodeling is at least $25,000; and
         B.   Up to 15 years for construction of commercial or industrial structures.
            (Ord. 1-2000.  Passed 1-25-00.)
   (d)   A Community Reinvestment Area Housing Council shall be appointed for Alpha Community Reinvestment Area and such Housing Council shall be composed of two members to be appointed by the Mayor, two members to be appointed by this Council, and one member to be appointed by the Planning Commission of the City, which appointments are hereby authorized to be made, and such members when appointed are further authorized in turn to appoint two additional members, who shall be residents of the City. Such members shall serve for a period of three years, and shall make an annual inspection of the properties within the Alpha Community Reinvestment Area for which an exemption has been granted, and otherwise carry out the requirements of the Community Reinvestment Area Program.
   (e)   Council reserves the right to re-evaluate the Alpha Community Reinvestment Area after December 31, 1996, at which time the Council may direct the Housing Officer not to accept any new applications for real property tax exemptions as described in Ohio R.C. 3735.67, with respect to any additional construction or rehabilitation thereafter commenced in said Alpha Community Reinvestment Area.  (Ord. 11-1994.  Passed 3-14-94.)