5304 - 78 estab boundaries of Comm Reinvestment Area & designate admin

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RE~OLUTION NO. 53o4 Chinnock, Magnotto, Salmon, Usher AN EM~RGENCYRESOLUTION making findings and determinations as permitted in Sections 3735.65 'to 3735.70 of the Ohio Revised Code~ establishing and describing the boundaries of a "C~m~nit~ Reinvest~nt Area," designating a housing officer to administer the program. W~[EREAS, the Council of the City of Lake~pod desires to pursue all reasonable and legitimate incentive measures to assist'in encouraging housing maintenance ~d economic and community developn~nt in areas that have not enjoyed reinvestment by remodeling or new construction, and WHEREAS, this Council has been briefed on new state enabling legislation that allows for financial incentives to be offered within a "Commmity Reinvestment Area," and WHEREAS, this Council has made a survey of housing as specified in Section 3735.66 of the Ohio Revised Code, and ~{ERFAS, areas were found that contain housing facilities, or structures of historical significance, and wherein new housing construction and repair of existing £acilities or stz~ctures mre discouraged, and WHERI~S, the maintenance and construction of structures in such areas would serve to encourage econonic stability, maintain real property values, and generate new employment opportunities, mhd WHEREA~, this resolution constitutes an en~rgency measure necessary £or the mm~diate preservation of the public peace, health and safety and by the further reason that this resolution rmast take effect at the earliest possible time in order to reduce cri.~and juvenile delinquency; prevent hones and residential areas from deteriorating and becomlng blighted with resultant increase in disease and other hazards to health; and reduce the amount of ta~es required for welfare programs, by maintaining and creating jobs, maintaining and ~proving the standard of living and maintaining and increasing property values by mmmediately stinmlatJng and increasing industrial, commerical, distribution and research develop~nent in the City; now, therefore, BE IT RESOLVe) BY THE COUNCIL OF ~E CITY OF LAK~0OD, S~ATE OF OHIO: Section 1. That for purposes of fulfilling the requir~nents set forth under Sections 3735.65 to 3735.70, inclusive, of the Ohio Revised Code, the Council of the City of Lakewood establishes "Community Reinvestment Area #1." Section 2. That the boundaries of "Conmunity Reinvestment Area #1" are census tracts 1601, 1602, 1603, 1604, 1605, 1606, 1607, 1608 1609 1610, 1611, 1612, 1613, 1614, 1615, 1616~ 1617~ %6%8~ttie C%~ Of~. Section 3. That within "C~r~mnity Reinvestment Area #1" tax abat~nent for improv~nents to real property as described in Section 3736.67 of the Ohio Revised Code will be granted for the following period: Five (5) years for the r~nodeling of every evader-occupied dwelling containing not n~re than two family units upon which the cost of remodeling is at least Two Thousand Five Hundred Dollars ($2,500.00) as described in Division A of Section 3736.67. Section 4. R~lat toad minister and~Tpl~mnt theprovisions of this resolution, the Assistant t~using Conmissioner of the City of L~ewcx~ is designated as the Housing Officer asdescribed in Sections 3735.65-66 of the Ohio Revised Code.