Explanation
In 2018, the City adopted a new residential Community Reinvestment Area policy based on the 2016 study from HR&A that evaluated the effectiveness of real property tax abatements. Chapter 4565 of the City Code was established by Ordinance 2184-2018 that outlines the eligibility requirements to apply for and receive a tax abatement on property used for residential purposes. Chapter 4565 of the City Code also requires the City to evaluate the policy and CRA categorization every 3 years. The Far South CRA was updated through Ordinance 1870-2022 to reflect the recent changes made to Chapter 4565 of the City’s Code; however, as a result of going through the implementation process and with additional review, it has been determined that there is a need to amend this ordinance to make administrative corrections. This ordinance will modify the Far South Community Reinvestment Area by clarifying the transition from the 2018 policy to the 2022 policy.
Title
To amend the Far South Community Reinvestment Area to align with the updates located in Chapter 4565 of the Columbus City Codes; to provide that the City’s existing Community Reinvestment Area Housing Council shall serve as the Housing Council for the Far South Community Reinvestment Area; and to declare an emergency.
Body
WHEREAS, the City of Columbus has established a goal of fostering private sector investment to build mixed income neighborhoods dispersed throughout the City; and
WHEREAS, Ordinance No. 1698-78, approved August 3, 1978, authorized the Department of Development to carry out a Community Reinvestment Program, pursuant to Sections 3735.65 to 3735.70 of the Ohio Revised Code, and approved certain administrative procedures for the program; and
WHEREAS, Ordinance 2168-2020 created the Far South Community Reinvestment Area and authorized real property tax exemptions within it, as provided per Ohio Revised Code; and
WHEREAS, Ordinance 1870-2022 amended the Far South CRA to adopt the revi...
Click here for full text