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(EDITOR'S NOTE: Resolution 94-75, passed on 6-30-94, originally established the Community Reinvestment Area No. 4, which was later repealed by Ordinance 04-201, passed October 20, 2004. The following section was re-enacted by Ordinance 05-62, passed 6-1-05; subsequently re-enacted by Ordinance 09-102, passed 10-7-09.)
(a) Based upon the aforesaid recommendations and upon said housing survey, and on this City Council's own knowledge of the facts and conditions existing in the CRA #4, this City Council hereby finds and determines that: CRA #4 constitutes an area in which housing facilities are located and in which new housing construction and repair of existing facilities or structures is discouraged.
(b) Pursuant to Ohio R.C. 3735.66, CRA #4 is hereby established and designated as a Community Reinvestment Area meeting the requirements of Ohio R.C. 3735.65 - 3735.70, and CRA #4 is hereby established and designated in the area described and depicted in Exhibit A attached to Ord. 09-102, passed 10-7-09.
(c) Within CRA #4, new construction of commercial and industrial structures and remodeling of existing commercial and industrial structures are hereby declared to be a public purpose and eligible for an exemption from real property taxation. Only commercial and industrial improvements consistent with the applicable zoning regulations within CRA #4 will be eligible for exemptions.
(d) (1) Within CRA #4, the percentage of the tax exemption on the increase in the assessed valuation resulting from improvements (remodeling) to or new construction of commercial and industrial real property and the period of those exemptions shall be negotiated on a case-by-case basis in advance of the commencement of construction or remodeling consistent with Ohio R.C. 3735,67, and there shall be no exemption for single family or multifamily residential improvements. The results of such negotiations as approved by this City Council will be set forth in writing in Community Reinvestment Area Agreements as outlined in Ohio R.C. 3735.671.
(2) If remodeling qualifies for an exemption, during the period of the exemption, the exempted percentage of 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 the exempted percentage of 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.
(e) All commercial and industrial projects are required to comply with the state application fee requirements of Ohio R.C. 3735.672(C).
(f) To administer and implement the provisions of this section, the City Manager is designated as the Housing Officer as described in Ohio R.C. 3735.65 through 3735.70.
(g) A Community Reinvestment Area Housing Council (the "Housing Council") shall be established, consisting of two members appointed by the Mayor of the city, two members appointed by the City Council, one member appointed by the Planning Commission of the city and two residents of the city, appointed by a majority of the first five members, which appointments are hereby authorized to be made. 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 in which the initial appointment was made. The Mayor of the city, the City Council and Planning Commission are hereby authorized and directed to make their respective appointments to the Housing Council and those five appointed members are authorized to appoint the final two members. The Housing Council shall make an annual inspection of the properties within CRA #4 for which an exemption has been granted and shall hear appeals under Ohio R.C. 3735.70 from property owners whose CRA applications have been denied or tax exemptions revoked by the Housing Officer. The city previously has established a Tax Incentive Review Council.
(h) This City Council reserves the right to re-evaluate the designation of the City CRA after December 31, 2010 and on an annual basis thereafter, at which time this City Council may direct the Housing Officer not to accept any new applications for exemptions as described in Ohio R.C. 3735.67, with respect to any additional construction or remodeling thereafter commenced.
(i) The City Manager of the city is hereby authorized and directed to petition the Director of Development ("DOD") within fifteen days following passage of this section to confirm the findings contained within this section.
(j) A copy of this section shall be forwarded to the Summit County Auditor; and a copy of this section shall also be published in a newspaper of general circulation in the city once a week for two consecutive weeks immediately following its passage.
(k) This Council finds and determines that all formal actions of this Council and any of its committees concerning and relating to the passage of this section were taken in an open meeting of this Council or its committees, and that all deliberations of this Council and any of its committees that resulted in those formal actions were in meetings open to the public, all in compliance with the law.
(l) This section is declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety of the city, and for the further reason that the immediate effectiveness of this section is required in order to designate the CRA #4 in order to provide for creation of jobs and economic opportunities in such area which are vitally needed in order to enhance income tax revenues for the city and to ensure that the city will retain and expand its commercial and industrial facilities and to improve the economic welfare of the people; wherefore this section shall be in full force and effect immediately upon its passage, provided it receives the affirmative vote of five members of Council elected thereto or six affirmative votes if all members of Council are present at the meeting at which it is passed; otherwise it shall be in full force and effect from and after the earliest period allowed by law.
(Ord. 05-62. Passed 6-1-05; Ord. 09-102. Passed 10-7-09.)