(a) For the purpose of fulfilling the requirements set forth in ORC 3765.65 to 3765.70, inclusive, the City Council hereby designates certain Community Reinvestment Areas ("CRAs") within the City, as set forth in this Chapter. The construction of new structures and the remodeling of existing structures within the established CRAs is hereby declared to be a public purpose for which exemptions from real property taxation may be granted in accordance with the provisions of this Chapter.
(b) Purpose of CRA Program. This CRA Program is intended to promote and expand conforming uses in the designated CRAs.
(c) Eligible Projects. Only new structures or remodeling classified as to use as residential, commercial, or industrial, or some combination thereof, and otherwise satisfying the requirement of ORC 3537.67, within a designated CRA are eligible for exemptions under the CRA Program. The classification of the structures or remodeling eligible for exemption under the CRA Program shall at all times be consistent with zoning restrictions applicable to the area.
(d) Structures with Multiple Units. Whether a structure or remodeling composed of multiple units is classified as residential, commercial, or industrial shall be determined by the classification of the use of the structure or remodeling under applicable zoning regulations.
(Ord. 15-57. Adopted 11/24/15; Ord. 2023-39. Adopted 12/28/23)
(Editor's Note: CRA No. 1 was originally established by Resolution 85-G, passed on 08/08/1985, and was codified by the adoption of Ordinance 15-57, adopted on 11-24-15)