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CHAPTER 171 EXHIBITA <br />Community Reinvestment <br />171.01 Community Rcim estment Area established. <br />171.02 Territory included. <br />171.03 Tax exemptions. <br />171.04 Housing Officer designated. <br />171.05 North Olmsted Community Reinvestment Area Housing Council and Tax <br />Incentive Review Council established. <br />171.01 COMMUNPIY REINVESTMENT AREA ESTABLISHED <br />For the purposes of fuI1iIIing the requirements of the Act. Council hereby establishes the "'.North <br />Olmsted Community Reinvestment Arca." as a community reim cs'uncnt arca within the meaning <br />of Ohio R.C. 3735.65(6). <br />171.112 TERRITORY INCLUDED. <br />(a) pursuant to Ohio R.C. 3735.66. the North Olmsted Community Reinvestment Arca shall <br />consist of all parcels of land within the corporate limits of the City. Upon the inclusion of any new <br />territory within the corporate limits of the City. Council may include such new territory into the <br />North Olmsted Community Reimrestment Area if Council has made the findings and <br />determinations required by Ohio R.C. 3735.65 with respect to such new territory. <br />(b) I lie area designated as the North Olmsted Community Reinvestment Arca constitutes an <br />arca in which housing facilities are located and in which new construction or repair of existing <br />facilities has been discouraged for reasons beyond the control of the City of North Olmsted. <br />(c) Only residential, commercial and,tor industrial properties consistent with the applicable <br />zoning regulations within the designated Conurumity Rcinvesuncnt Arca will be eligible for <br />exemptions tinder this program. <br />(d) All properties or parcels of land within the corporate limits of the Cily, being within the <br />North Olmsted Community Reim estment Alen, are eligible for this incentive Ibis proposal is a <br />public/private partnership intended to promote and expand conforming uses in the designated area. <br />As part of the project. the City of North Olmsted intends to undertake supporting public <br />improvements in the City. <br />171.03 1'AX EXEMPTIONS. <br />(a) Within the North Olmsted Community Reimestment Area, the percentage of the tax <br />exemption on the increase in the assessed valuation resulting from improvements to commercial <br />and industrial real property and the term of those exemptions shall be negotiated oil a case-by- <br />case basis in advance of construction or remodeling occurring according to the rules outlined in <br />