City of Columbus - File #: 1938-2006

• File #: 1938-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/25/2006
• In control: Health, Housing & Human Services Committee
• On agenda: 11/6/2006
• Final action: 11/9/2006
• Title: To create the Franklinton/Area G Community Reinvestment Area and to authorize real property tax exemptions as established in Sections 3735.65 to 3735.70 of the Ohio Revised Code; and to declare an emergency.

Date	Ver.	Action By	Action	Result
11/9/2006	1	CITY CLERK	Attest
11/8/2006	1	MAYOR	Signed
11/6/2006	1	Columbus City Council	Approved	Pass
11/6/2006	1	COUNCIL PRESIDENT	Signed
10/27/2006	1	Dev Drafter	Sent to Clerk's Office for Council
10/26/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
10/26/2006	1	Dev Drafter	Sent for Approval
10/26/2006	1	CITY ATTORNEY	Reviewed and Approved
10/25/2006	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND:

The goal of designating Community Reinvestment Areas is neighborhood revitalization and stabilization. The designation will help to stabilize neighborhoods, increase school enrollment and increase the supply of affordable housing in the City.

This Ordinance will create the Franklinton/Area G Community Reinvestment Area (see Exhibit B) and provide real property tax exemptions for residentially-zoned parcels within the target area.

FISCAL IMPACT:

No funding is required for this legislation.



Title

To create the Franklinton/Area G Community Reinvestment Area and to authorize real property tax exemptions as established in Sections 3735.65 to 3735.70 of the Ohio Revised Code; and to declare an emergency.



Body

WHEREAS, the council of the City of Columbus (hereinafter "Council") desires to pursue reasonable and legitimate incentive measures to assist and encourage development in specific areas of the City of Columbus that have not enjoyed reinvestment from remodeling or new construction; and

WHEREAS, Resolution No. 1698-78, approved August 3, 1978, as amended by Ordinance No. 1345-02, approved July 29, 2003, 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, a survey of housing (see Exhibit A) as required by Ohio Revised Code (ORC) Section 3735.66 has been prepared and included in this proposed Community Reinvestment Area; and

WHEREAS, the remodeling of existing buildings for residential use and construction of new residential structures in this Community Reinvestment Area would serve to encourage economic stability, maintain real property values, and generate new employment opportunities; and

WHEREAS, the remodeling of existing housing units for residential use and the construction of new residential structures i...