(A) The area designated as the Reading Road Corridor Community Reinvestment Area constitutes an area in which housing facilities and structures of historical significance are located, and in which new construction or repair of existing structures have been discouraged.
(B) Pursuant to Ohio R.C. § 3735.66, the Reading Road Corridor Community Reinvestment Area is hereby established in the following described area:
(1) The Reading Road Corridor Community Reinvestment Area borders:
To the north, the city corporation line at Cooper Road on the east and the corporation line on the west.
To the south, the city corporation line on the west of Galbraith Road (including two parcels just to the south of Galbraith Road) and to the city corporation line on the east (south of Sunnybrook Drive).
To the east, the community reinvestment area will include all parcels which have frontage on Reading Road within the corporate limits of the city, as depicted on the attached boundary map. Certain parcels, which are contiguous to Reading Road frontage property to the east, are also included in the community reinvestment area, particularly in the areas of Second and Third Streets and the Elizabeth, Anna, and Roth Streets areas.
To the west, the community reinvestment area will include all parcels which have frontage on Reading Road within the corporate limits of the city, as depicted on the boundary map as attached to Ordinance No. 99-52, passed July 6, 1999. Certain parcels which are contiguous to Reading Road frontage property to the west are also included in the community reinvestment area, particularly in the areas of Pleasant Street and Columbia Avenue and the Illinois Avenue and Clark Street area.
(2) The community reinvestment area is depicted as the shaded area on the map attached to Ordinance No. 99-52, passed July 6, 1999, marked Exhibit B and, by this reference, incorporated herein.
(3) Only 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. All residential properties are excluded from this community reinvestment area. Mixed use properties are considered commercial properties and are, therefore, eligible for exemptions under this program.
(C) All commercial and industrial properties identified in Exhibit A, attached to Ordinance No. 99-52, passed July 6, 1999, as being within the designated community reinvestment area are 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 city intends to undertake supporting public improvements in the designated area.
(Ord. 99-52, passed 7-6-99)