(A) Within Community Reinvestment Area No. 1, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) Three years for the remodeling of residential dwellings, the cost of which is at least $5,000;
(2) Twelve years for the remodeling of commercial structures, the cost of which is at least $10,000;
(3) Twelve years for the remodeling of industrial structures, the cost of which is at least $25,000;
(4) Seven years for the construction of new commercial structures, the cost of which is at least $10,000;
(5) Seven years for the construction of new industrial structures, the cost of which is at least $25,000.
(B) Within Community Reinvestment Area No. 2, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) Three years for the remodeling of residential dwellings, the cost of which is at least $5,000;
(2) Twelve years for the remodeling of commercial structures, the cost of which is at least $10,000;
(3) Twelve years for the remodeling of industrial structures, the cost of which is at least $25,000;
(4) Seven years for the construction of new commercial structures, the cost of which is at least $10,000;
(5) Seven years for the construction of new industrial structures, the cost of which is at least $25,000.
(C) Within Community Reinvestment Area No. 3, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) Three years for the remodeling of residential dwellings, the cost of which is at least $5,000;
(2) Twelve years for the remodeling of commercial structures, the cost of which is at least $10,000;
(3) Twelve years for the remodeling of industrial structures, the cost of which is at least $25,000;
(4) Seven years for the construction of new commercial structures, the cost of which is at least $10,000;
(5) Seven years for the construction of new industrial structures, the cost of which is at least $25,000.
(D) Within Community Reinvestment Area No. 4, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) Three years for the remodeling of residential dwellings, the cost of which is at least $5,000;
(2) Twelve years for the remodeling of commercial structures, the cost of which is at least $10,000;
(3) Twelve years for the remodeling of industrial structures, the cost of which is at least $25,000.
(E) Within Community Reinvestment Area No. 6, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) Three years for the remodeling of residential dwellings, the cost of which is at least $5,000;
(2) Twelve years for the remodeling of commercial structures, the cost of which is at least $10,000;
(3) Twelve years for the remodeling of industrial structures, the cost of which is at least $25,000.
(F) Within Community Reinvestment Area No. 7, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) Three years for the remodeling of residential dwellings, the cost of which is at least $5,000;
(2) Twelve years for the remodeling of commercial structures, the cost of which is at least $10,000;
(3) Twelve years for the remodeling of industrial structures, the cost of which is at least $25,000;
(4) Fifteen years for the construction of new industrial structures, the cost of which construction is at least $500,000.
(G) Within Community Reinvestment Area No. 8, tax exemption for improvements as described in R.C. § 3735.67 are granted for the following periods:
(1) One hundred percent for ten years for construction of new residential dwellings;
(2) One hundred percent for ten years for the remodeling of residential dwellings, the cost of which is at least $50,000;
(3) Up to 15 years for the construction of commercial or industrial structures, negotiated on a case by case basis;
(4) Up to 15 years for the remodeling of commercial or industrial structures, negotiated on a case by case basis.
(Ord. 6199, passed 5-10-88; Am. Ord. 6243, passed 7-26-88; Am. Ord. 6423, passed 11-14-89; Am. Ord. 2022-110, passed 10-25-22; Am. Ord. 2022-111, passed 10-25-22)