(A) The area designated as the Village of New Bremen Community Reinvestment Area No. 1 constitutes an area in which housing facilities or structures of historical significance are located, and in which new construction or repair of existing facilities has been discouraged.
(B) (1) Pursuant to R.C. § 3735.66, the Village of New Bremen Community Reinvestment Area No. 1 is hereby established in the following described area:
"The boundary of the Village of New Bremen Community Reinvestment Area shall correspond to the corporate "limits of the Village of New Bremen excluding the following areas:
(a) Cardinal Subdivision Phases 1 and 2
(b) Pioneer Subdivision Phases 1,2, 3,4 and 5
(c) Teton Subdivision Phase 2
(d) Walnut Street Subdivision."
(2) (a) The Community Reinvestment Area is approximately depicted as the area on the map attached to Ordinance 2008-4-9 (see Exhibit A attached thereto) and by this reference incorporated herein. The crosshatched portions are those areas of the village which are not included in the Community Reinvestment Area.
(b) Ordinance 2018-12-31 amends Community Reinvestment Area No. 1 to include recent annexed territories (see Exhibit A attached to Ordinance 2018-12-31).
(3) Only residential, commercial and/or industrial properties consistent with the applicable zoning regulations within the designated Community Reinvestment Area will be eligible for exemptions under this program.
(C) All commercial, industrial and mixed used properties and residential properties which are at least 60 years old identified in Exhibit A (attached to Ordinance 2008-4-9) as being within the designated Community Reinvestment Area, are eligible for this incentive. The Council has determined that certain residential, commercial, industrial and mixed use projects shall be eligible for this incentive. This proposal is a public/private partnership intended to promote and expand conforming uses in the designated area. As part of the project, the Village of New Bremen intends to undertake supporting public improvements in the designated area.
(D) (1) Within the Community Reinvestment Area, the percentage of the tax exemption on the increase in the assessed valuation resulting from improvements to commercial and industrial, and mixed use real property and the term of those exemptions shall be negotiated on a case-by-case basis in advance of construction or remodeling occurring according to the rules outlined in R.C. § 3765.67. The results of the negotiation as approved by this Council will be set in writing in a Community Reinvestment Area Agreement as outlined in R.C. § 3735.671. For residential property, a tax exemption on the increase in the assessed valuation resulting from the improvements as described in R.C. § 3735.67 shall be granted upon application by the property owner and certification thereof by the designated Housing Officer for the following periods.
(a) Five years, for the remodeling of residential dwelling units containing not more than two housing units, and which are at least 60 years old, and upon which the cost of remodeling is at least $10,000 as described in R.C. § 3735.67, and with such exemption being 100 % for each of the five years.
(b) Eight years, for the remodeling of every residential dwelling unit containing not more than two housing units, and which are at least 60 years old, and upon which the cost of remodeling is at least $50,000, as described in R.C. § 3735.67, and with such exemption being 100% for each of the eight years.
(c) Up to, and including, 12 years, for the remodeling of existing commercial and industrial and mixed use facilities as described in R.C. § 3735.67, the term and percentage of which shall be negotiated on a case-by-case basis in advance of remodeling occurring.
(d) Up to, and including, 15 years, for the construction of new commercial or industrial or mixed use facilities, the term and percentage of which shall be negotiated on a case-by-case basis in advance of construction occurring.
(2) For the purposes of the above described Community Reinvestment Area, structures exclusively used for residential purposes and composed of three and fewer units shall be classified as residential structures. Structures exclusively used for residential purposes and composed of four and greater units shall be classified as commercial structures and the exemption period and rate of the exemption shall be negotiated with the Village Council prior to any exemption being granted.
(3) 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, during the period of the 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 R.C. § 3735.672 (C) and the local annual monitoring fee of one percent of the amount of taxes exempted under the agreement - a minimum of $500 up to a maximum of $2500 annually unless waived.
(F) To administer and implement the provisions of this chapter, the Village Administrator of the Village of New Bremen is designated as the Housing Officer as described in R.C.§§ 3735.65 through 3735.70.
(G) That a Community Reinvestment Area Housing Council shall be created, consisting of two members appointed by the Mayor of New Bremen, two members appointed by the Council of the Village of New Bremen and one member appointed by the Planning Commission of the Village of New Bremen. The majority of the members shall then appoint two additional members who shall be residents within the area. Terms of the members of the Council shall be for three years. An unexpired term resulting from a vacancy in the Council shall be filled in the same manner as the initial appointment was made. The Community Reinvestment Area Council shall make an annual inspection of the properties within the district for which an exemption has been granted under R.C. § 3735.67. The Council shall also hear appeals under R.C. § 3735.70. A Tax Incentive Review Council shall be established pursuant to R.C. § 5709.85 and shall consist of three representatives appointed by the Board of County Commissioners, two representatives of the municipal corporation, appointed by the Municipal CEO with Council concurrence, the county auditor or designee and a representative of each affected Board of Education. At least two members must be residents of the Village of New Bremen. The Tax Incentive Review Council shall review annually the compliance of all agreements involving the granting of exemptions for commercial or industrial real property improvements under R.C. § 3735.671, and make written recommendations to the Council as to continuing, modifying or terminating said agreement based upon the performance of the agreement.
(H) The Council reserves the right to re-evaluate the designation of the Village of New Bremen Community Reinvestment Area after December 31,2008, at which time the Council may direct the Housing Officer not to accept any new applications for exemptions as described in R.C. § 3735.67.
(I) The Community Reinvestment Area Council shall make an annual inspection of the properties within the district for which an exemption has been granted under R.C. § 3735.67. The Council shall also hear appeals under R.C. § 3735.70.
(J) The Council hereby finds and determines that all formal actions relative to the passage of this section were taken in an open meeting of this Council, that all deliberations of this Council and of its committees, if any, which resulted in formal action were taken in meetings open to the public, in full compliance with the applicable legal requirements, including R.C. § 121.22.
(K) This chapter shall take effect and be enforce from and after the earliest period allowed by law and upon confirmation by the Director of Development of the findings in this Resolution.
(L) The Mayor of the Village of New Bremen is hereby directed and authorized to petition the Director of Development to confirm the findings contained within this Resolution.
(Ord. 2008-4-9, passed 5-13-08; Am. Ord. 2018-12-31, passed 12-10-18)