145.05 TAX ABATEMENT PRINCIPLES.
   (a)    Abatements Required. Summit County Council recognizes that tax abatements may be required:
      (1)   In response to inter-state competition for employers;
      (2)   To encourage the location, expansion and retention of employers;
      (3)   To assist in the redevelopment of economically disadvantaged communities; and
      (4)   To support the reuse of environmentally damaged buildings and sites.
      (5)   Assist businesses whom but for the tax abatement would not find it financially viable to make a real property investment.
   (b)    Supporting Regional Cooperation. Cooperation among County and local governments to support regional economic development and job creation should be promoted. Economic development is a regional issue and teamwork among governmental units will help ensure the economic viability of the region.
   (c)   Responding to Inter-State Economic Development Competition. Tax abatements, and other forms of public finance incentives, may have to be provided to firms as a result of inter-state competition.
   (d)    Distressed Communities and Sites.
      (1)   Tax abatements in an enterprise zone are a means of encouraging firms to locate and expand in distressed municipalities.
      (2)   Employment distress occurs where unemployment rates are substantially above the state average and where labor force participating rates are substantially below the state average. Unemployed residents of these distressed communities should be hired as a result of any abatement.
      (3)   Environmental distress occurs in existing buildings and sites that have been used for business and industry and is substantially contaminated with hazardous materials. The reuse of these sites is a public purpose and an abatement would help to partially offset the cost and risk in doing so.
   (e)    Mayors, city councils, school boards, township trustees and county governments should be guaranteed an opportunity to express their opinions about the establishment of enterprise zones and proposed abatements because they are affected by these actions.
(Ord. 2022-121. Adopted 5-9-22.)