Within Community Reinvestment Areas Nos. 1, 2 and 3, tax exemptions for improvements to real property, as described in Ohio R.C. 3735.67, may be granted for, but may not exceed, the following periods:
(a) Ten years for the remodeling of every dwelling containing not more than two family units if the cost of remodeling is at least two thousand, five hundred dollars ($2,500), as described in Ohio R.C. 3735.67(A).
(b) Twelve years for the remodeling of every dwelling containing more than two units, and of commercial or industrial properties, if the cost of remodeling is at least five thousand dollars ($5,000), as described in Ohio R.C. 3735.67(B).
(c) Fifteen years for the construction of every dwelling, commercial or industrial structure described in Ohio R.C. 3735.67(C).
(Ord. 2779. Passed 11-14-78; Ord. 3470. Passed 2-21-84; Ord. 3471. Passed 2-7-84.)