(a) A Commercial and Industrial Community Reinvestment Area tax abatement application fee in the amount of seven hundred and fifty dollars ($750.00) is hereby established and said fee is due upon submission of the application for Commercial Community Reinvestment Area tax abatement application.
(b) An annual monitoring fee in the amount of one hundred dollars ($100.00) shall be remitted to the City of Lorain no later than January 31st for each year granted under the Commercial Community Reinvestment Tax Abatement agreement is in effect.
(Ord. 66-21. Passed 4-19-21.)
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