Explanation
Background: The goal of a Community Reinvestment Area is neighborhood revitalization and stabilization.
This Ordinance amends Ordinance 1735-2012, passed July 30, 2012, which amended Ordinance 1292-2012, passed June 18, 2012, that created the Short North Community Reinvestment Area in order to expand the area’s boundaries to provide for real property tax exemptions for additional residentially and commercially zoned and used parcels within the area.
This legislation is presented as an emergency to allow projects awaiting the benefits of the legislation to begin.
Fiscal Impact: No funding is required for this legislation.
Title
To amend Ordinance 1735-2012 for the purpose of expanding the Short North Community Reinvestment Area to provide for real property tax exemptions for additional residentially and commercially zoned and used parcels within the area and to authorize real property tax exemptions as established in 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 benefit of reinvestment from remodeling or new construction; and
WHEREAS, Ordinance 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, the Second and High Community Reinvestment Area created by Ordinance 1685-2009 and the Hubbard and High Community Reinvestment Area created by Ordinance 1153-2009 are officially absorbed into the Short North Community Reinvestment Area; and
WHEREAS, a survey of housing (see Exhibit A) and a list of parcels (Exhibit C) as required by Ohio Revised Code (ORC) Section 3735.66 has been prepared a...
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