(a) The boundaries of Community Reinvestment Area Number One are as follows:
Beginning at the intersection of East Main Street and Mill Street and proceeding north on Mill Street to Walnut Street; thence proceeding west on Walnut Street to Plymouth Street; thence proceeding south on Plymouth Street to Lutz Avenue; thence proceeding west on Lutz Avenue to the northwest corner of inlot 134; thence south along the west side of inlots 134, 132 and 29 to West Main Street; thence east along West Main Street to Delaware Street; thence southwest along Delaware Street to Church Street; thence east on Church Street to Mill Street; thence north on Mill Street to the place of beginning.
(b) Within Community Reinvestment Area Number One tax exemptions for improvements to real property as described in Ohio R.C. 3735.67 will be granted for the following periods.
(1) Ten years for the remodeling of every dwelling containing not more than two family units on which the cost of remodeling is at least $2,500 as described in division (A) of Ohio R.C. 3735.67.
(2) Ten years for the remodeling of every dwelling containing more than two units, and commercial or industrial properties, on which the cost of remodeling is at least $5,000 as described in division (B) of Ohio R.C. 3735.67.
(3) Fifteen years for the construction of every dwelling, commercial, or industrial structure as described in division (C) of Ohio R.C. 3735.67.
(Res. 79-46. Passed 10-15-79.)