header-left
Share to Facebook Share to Twitter Bookmark and Share
File #: 2029-2017    Version: 1
Type: Ordinance Status: Passed
File created: 7/17/2017 In control: Economic Development Committee
On agenda: 7/31/2017 Final action: 8/3/2017
Title: To create the Milo-Grogan 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.
Attachments: 1. ORD2029-2017 Exhibit A Milo-Grogan Survey of Housing, 2. ORD2029-2017 Exhibit B MiloGrogan CRA, 3. ORD2029-2017 Exhibit C MiloGrogan CRA Parcels, 4. ORD2029-2017 MiloGrogan CRA Vacant Parcels, 5. ORD2029-2017 MiloGrogan CRA Zoning
Explanation
Background:

The goal of a Community Reinvestment Area is neighborhood revitalization and stabilization.

This Ordinance will create the Milo-Grogan Community Reinvestment Area and provide for real property tax exemptions for residentially zoned and used parcels within the area.

The Ordinance will provide for exemption from an increase in real property tax for construction of new housing; on the increase in valuation of building conversions from commercial use to residential use; and on the increase in property taxes due to the renovation of existing single and multi-family housing units, within the established boundaries.

The ordinance is an emergency ordinance to allow for planned projects in the CRA to be assured access and benefit from the CRA so that they can proceed.

Fiscal Impact: No fiscal impact. No funding is required for this legislation.

Title
To create the Milo-Grogan 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 benefit of reinvestment from remodeling or new construction; and

WHEREAS, a survey of housing (see Exhibit A) and a list of parcels (see Exhibit C) as required by Ohio Revised Code (ORC) Section 3735.66 has been prepared for this proposed Community Reinvestment Area; and

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

WHEREAS, the remodeling of existing buildings for residential use and the construction of n...

Click here for full text