Explanation
BACKGROUND: The goal of a Community Reinvestment Area is neighborhood revitalization and stabilization.
This Ordinance amends Ordinance 1835-2013, passed July 22, 2013, to amend the Fifth by Northwest Community Reinvestment Area (CRA). The purpose of this amendment 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 funding is required for this legislation.
Title
To amend the Fifth by Northwest Community Reinvestment Area to authorize real property tax exemptions as established in the Ohio Revised Code; and to declare an emergency.
Body
WHEREAS, Ordinance 1835-2013 passed July 22, 2013 amended the Fifth by Northwest CRA; and
WHEREAS, additional parcels have been annexed into the City of Columbus since Ordinance 1835-2013 has been passed; and
WHEREAS, the owners of these parcels wish to participate in the benefits available from the CRA; and
WHEREAS, an updated survey of housing (see Exhibit A) as required by Ohio Revised Code (ORC) Section 3735.66 and a list of parcels (Exhibit B) has been prepared and included in this Ordinance; and
WHEREAS, the continued 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 continued remodeling of existing buildings for residential use and the construction of new residential structures in this Community Reinvestment Area constitutes a public purpose for which real property exemptions may be granted; and
WHEREAS, the proposal is a public/private partnership intended to promote and expand conforming uses in the de...
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