§ 4565.06. Availability of incentives.

(A)

Unless specifically stated herein, incentives under this chapter for development projects containing four (4) or more housing units within Market Ready Areas or Ready for Revitalization Areas shall be available only pursuant to agreement between the City and the project sponsor, entered prior to commencement of construction. A property owner may request a waiver for submission of agreement post commencement of construction with approval from the Director. Such agreement must include the terms specified in Section 4565.07 for Market Ready Areas or Section 4565.08 for Ready for Revitalization Areas.

(B)

Development projects shall not be artificially divided to avoid the agreement requirements within this chapter.

(C)

For remodeling of a dwelling containing not more than three (3) housing units, and that otherwise qualifies for real property tax abatement, no agreement under division (A) of this section shall be required to receive such abatement.

(D)

For construction of a new dwelling containing not more than three (3) housing units, and that otherwise qualifies for real property tax abatement, no agreement under division (A) of this section shall be required to receive such abatement; provided, however, that if the new dwelling is to be located in a Market Ready Area, it must provide affordable housing as defined in this chapter and any rules adopted hereunder to be eligible for the tax abatement.

(E)

Development projects within Ready for Opportunity Areas shall not be subject to the agreement requirement within division (A) of this section and shall receive an abatement of property taxes on one hundred percent (100%) of the assessed valuation of the structure for a period of fifteen (15) years.

(F)

The statement of required terms in Sections 4565.07, 4565.08, and 4565.05 shall not be construed to limit the ability of the Director to prescribe additional agreement terms by rule, subject to approval as to legal form by the City Attorney.

(Ord. No. 2184-2018 , § 1, 7-30-2018; Ord. No. 2781-2018 , § 2, 10-22-2018)