Explanation
Background
The goal of a Community Reinvestment Area is neighborhood revitalization and stabilization.
This Ordinance will amend the Columbus Housing Community Reinvestment Area (the “CHCRA”) to incorporate recent annexations and transfers out of existing commercial CRAs, as well as standardizing the minimum investment amount required for eligibility of the incentive. The real property tax exemptions provided herein will be available only for parcels that are residentially zoned, or parcels where residential use is permitted by variance, and only for properties that are actually used for residential purposes.
FISCAL IMPACT: Not applicable.
Title
To amend Ordinance No. 3448-2023, as amended by Ordinance Nos. 1393-2024 and 1908-2025; to modify the Columbus Housing Community Reinvestment Area (the “CHCRA”); to authorize real property tax exemptions as authorized by Chapter 3735 of the Ohio Revised Code (ORC); and to provide that the City’s existing Community Reinvestment Area Housing Council shall serve as the Housing Council for the modified CHCRA. ($0.00)
Body
WHEREAS, recent annexations and housing development opportunities in existing commercial CRAs have been identified to incorporate into the Columbus Housing CRA; and
WHEREAS, a housing survey (Exhibit A) and a map of the proposed CRA (Exhibit B), as required by ORC Section 3735.66, have been prepared and are attached to this Ordinance; and
WHEREAS, it has become necessary in the usual daily operation the minimum investment amounts for eligibility of the incentive will be adjusted to the minimums prescribed by ORC; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That Sections 2, 3, 6, 7, 10, and 15 of Ordinance No. 3448-2023 (including Exhibits A, B, D, and E thereto), as amended by Ordinance Nos. 1393-2024 and 1908-2025, is hereby amended as follows:
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Section 2. That City Council finds that the housing survey in Exhibit A, attached hereto and in...
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