Explanation
Background: The goal of a Community Reinvestment Area is neighborhood revitalization and stabilization.
This Ordinance will amend Ordinance 1723-2012, passed July 30, 2012, which amended Ordinance 0479-2011 that established the Fifth by Northwest Community Reinvestment Area (CRA). The purpose of amending the Ordinance is to add parcels within the boundaries of the area that have been recently annexed to the City of Columbus from Clinton Township and provide for real property tax exemptions for residentially-zoned and used parcels within the area.
Emergency action is being requested so that the additional parcels can be eligible for abatement as soon as possible.
Fiscal Impact: No fiscal impact. No funding is required for this legislation.
Title
To amend Ordinance 1723-2012 to add parcels within the boundaries of the Fifth by Northwest Community Reinvestment Area, authorizing real property tax exemptions as established in the Ohio Revised Code; and to declare an emergency.
Body
WHEREAS, Ordinance 0479-2011, passed April 4, 2011 created the Fifth by Northwest Community Reinvestment Area (CRA); and
WHEREAS, Ordinance 1723-2012, passed on July 30, 2012 amended the CRA to add parcels that were annexed into the City of Columbus after creation of the CRA; and
WHEREAS, additional parcels have been annexed into the City of Columbus since Ordinance 1723-2012 was passed; and
WHEREAS, the owners of these parcels wish to participate in the benefits available from the CRA; 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 and maintain real property values; and
WHEREAS, the remodeling of existing buildings for residential use...
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