7710-02 Amend 5304-78 Expanding Comm Reinvestment

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Section 1. That for purposes of fulfilling the requirements set ~forth under Section 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 "Community Reinvestment Area #1" includes the entire City of Lakewood. Section 3. That within "Community Reinvestraent Area #1' tax abatement for improvements to real property as described in Section 3736.67 of the Ohio Revised Code Will be granted as follows: A. For the remodeling of every dwelling containing not more than two family units, including individual condominium units: 1. Five (5) years, upon which the cost of remodeling is at least Two Thousand Five Hundred Dollars ($2,500) but less than Ten Thousand Dollars ($10,000). 2. Ten (10) years, upon which the cost of remodeling is Ten Thousand Dollars ($:~0,000) or more. B. For the remodeling of every common area of a condominium building containing more than two units: 1. Five (5) years, upon which the cost of remodeling is at least Five Thousand Dollars ($5,000) but less than One Million Dollars ($1,000,000). 2.. Ten (10) years, upon which the cost of remodeling is One Million Dollars ($1,000,000) or more. Section 4. Applications for abatement must be filed by the individual property owner where the improvement is made to a dwelling containing less than two family units or an individual condominium. Only one application per project for abatement shall be submitted for common areas of condominium buildings by the president of the assodation on behalf of the association, if the property is tiffed to the assodation, or on behalf of the individual owners, if the property is titled to the individual owners. Section 5. That to administer and implement the provisions of this resolution, the Assistant Housing Commissioner of the City of Lakewood is designated as the Housing Officer as described in Sections 3735.65-66 of the Ohio Revised Code. Section 6. That the Housing Officer shall verify that ali work has been completed under proper building permits and completed in compliance with all building codes, zoning codes and any other applicable laws. Section 7. That the Community Reinvestment Area Housing Coundl shall hear all appeals under section 3735.70 of the Revised Code and meet no less than once annually to fulfill the duties imposed by Ohio Revised Code Section 3735.69. Section 8. That a copy of this resolution will be forwarded to the Cuyahoga County Auditor by the Clerk of Council for information and reference.