1991 051 Ordinance - Laserfiche WebLink

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ORDINANCE NO. 91-51 Page 2 WHEREAS, the maintenance and construction of structures in such areas would serve to encourage economic stability, maintain real property values, and generate new employment opportunities; NOW, THEREFORE, BE IT ORDAINED by the Council of Mayfield Village, Ohio, that: SECTION 1. That, based upon the aforesaid recommendations and upon said housing survey, and on this Council's own knowledge of the facts and conditions existing in the Community Reinvestment Area, this Council hereby finds and determines that: the Community Reinvestment Area is an area in which housing facilities are located and new housing construction and repair of existing facilities or structures is discouraged; that Community Reinvestment Area qualifies, and is hereby established and designated as a Community Reinvestment Area pursuant to and in accordance with, and meeting the requirements of Section 3735.65- .70 of the Ohio Revised Code; and that the boundaries of the Community Reinvestment Area shall be as shown and described on Exhibit A attached hereto and made a part hereof. SECTION 2. That this Council directs Robert Van Vliet to serve as the "Housing Officer" for the Community Reinvestment Area, and authorizes and directs the Housing Officer to receive applications and grant real property tax exemptions for new structures or remodeling completed after the date of adoption of this Ordinance, and further authorizes the Housing Officer to make annual inspections of properties within said Area for which exemptions have been granted, and otherwise to carry out the requirements of the Community Reinvestment Area Program. SECTION 3. Any new structure or remodeling completed after the effective date of this Ordinance within the Community Reinvestment Area and certified by the Housing Officer shall be eligible for a tax exemption of the assessed value of said improvements as determined by the Cuyahoga County Auditor pursuant to Section 3735.67 of the Ohio Revised Code in accordance with the following schedule: (A) Sixty-six and two-thirds percent (66 2/3%) of the assessed value of any construction of every dwelling, or commercial or industrial structure located within the Community Reinvestment Area is hereby declared to be a public purpose and exempt from real property taxation for the first fifteen years commencing in the year following the calendar year in which a certification is made to the County Auditor by the Housing Officer as set forth in Section 3735.67 of the Ohio Revised Code.