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120.07 CONTINUATION OF CURRENT EXEMPTIONS.
All Community Reinvestment Area real property tax exemptions heretofore granted and certified to the Cuyahoga County Auditor by the City’s Housing Officer prior to the passage of Ordinance 1-2000, and all CRA real property tax exemptions which may hereafter be granted and certified to the Cuyahoga County Auditor by the Housing Officer without application of Ordinance 1-2000 pursuant to the requirements of Section 120.05, shall continue in full force and effect, unless terminated by other legislation by this Council.
(Ord. 1-2000. Passed 1-25-00.)
CRITERIA FOR NEGOTIATION OF PERCENTAGE
AND TERM OF REAL PROPERTY TAX EXEMPTION
The City will determine, on a case by case basis, the amount and duration of the real property tax exemption which will be approved by the City in connection with a particular Community Reinvestment Area Project. Criteria which the City will weigh in connection with such approval include but are not limited to the following:
1. The amount and duration of real property tax exemption required to enable the proposed Project to proceed.
2. The amount of payroll to be generated or retained in connection with the Project, and taking into account such factors as the size of the Company.
3. The amount of new private business investment to be made in connection with the Project, in real property improvements and machinery, equipment, inventory and other personal property.
4. The extent to which the proposed Project will result in the elimination or mitigation of environmental hazards or problems on an existing site, or in an existing facility, and the extent to which the proposed Project will result in the renovation and productive use of existing vacant or partially vacant facilities.
5. The degree to which the proposed Project will have a positive impact on the community, including without limitation Company covenants to work cooperatively with and directly or indirectly assist the School District; and any other covenants of the Company for the general benefit of Highland Heights as a community.
The City may develop more specific criteria from time to time based upon the City's experience with specific Projects.
Dated: January 25, 2000