Latest news with #CommunityReinvestmentArea
Yahoo
a day ago
- Business
- Yahoo
City officials discuss how population has increased
(WKBN) — US Census figures released a few weeks ago showed that of the 76 communities in Mahoning, Trumbull and Columbiana Counties, only two have increased population in the last four are the City of Columbiana and Fairfield Township, which surround Columbiana. Columbiana in the last four years gained 187 people, and Fairfield Township 150. Behind the new Drug Mart on Route 164 in Columbiana, a new housing development is being built. 'It's going to be a combination of all different types of housing opportunities,' said Mayor Rick Noel. Rick Noel, 75, is Columbiana's mayor, who has lived in Columbiana his whole life. 'It's a recognition regionally, almost that we're a great place to be,' Noel said. Noel highlighted the downtown, where there are no vacancies. Columbiana has an active planning commission and has joined with Salem to have building permits processed in as little as two weeks. 'One of the great things is we have a great city government here, planning commission, park board — we have so many people involved and they're all working in a positive direction,' Noel said. Columbiana also has in place a Community Reinvestment Area — or CRA — which allows people building new homes to pay no property tax for 15 years. 'And there's no doubt that our growth, a lot of our growth, is because of the CRA,' Noel. 'We are at this point piggybacking off Columbiana,' Barry Miner said. Barry Miner is a Fairfield Township Trustee, where the population has also increased. It's primarily a farming community but the Fairfield Trustees have contributed to the growth of Columbiana. The land under the TownCenter at Firestone Farms was once Fairfield Township, but was allowed to be annexed into Columbiana. 'That we are going to work with the city and over the years, if you look at the acreage that we have lost the city of Columbiana by annexation, type 2, it has grown, so we have benefited from that,' Miner said. Minor pointed to a map where shades of yellow indicated areas zoned for housing. With many communities struggling with housing, Fairfield Township could grow. 'In the future, I think there will be some type of growth throughout the township,' Miner said. 'And we've really worked hard to make this a place where people want to come to and want to live and want to enjoy life,' Noel said. Columbiana's Mayor is not yet concerned about too much growth, though he said some people in Columbiana are concerned. There has been a noticeable increase in traffic and, well, Columbiana has just 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-05-2025
- Business
- Yahoo
Committee reviews loan program benefiting local businesses
YOUNGSTOWN, Ohio (WKBN) — Two years ago, the city of Youngstown took $3 million of its American Rescue Plan money to use for economic development and facade improvements, and Tuesday, City Council was updated on the status of those programs. Youngstown City Council's Community Planning and Economic Development, or CPED Committee, was given a list of all businesses that borrowed money through the city's revolving loan program, but it was CPED Director Nikki Posterli who put into perspective the success of the program. 'I'm looking at this list and I see some of these businesses were on the verge of closing so if it weren't for, had it not been for this opportunity, some of them probably wouldn't be open now,' Posterli said. The revolving loan program started in 2023 with $2 million of Youngstown's American Rescue Plan money. It was used for 26 loans, creating $4 million in total investment and 72 new jobs. Among the businesses that used a revolving loan were Penguins City Brewing, Lorenzino's Bocce Club, and The Varsity Club. As the loans are paid back, the money will be lent again. Councilman Julius Oliver called it a true legacy program. 'I don't think that's something that's ever been done before as far as economic development and being able to continuously help businesses,' Oliver said. 'They would have got it if it weren't for the city's help,' said Teresa Miller. Miller is the Executive Director of Valley Economic Development Partners, which facilitated the loans. It also facilitated up to $20,000 in grants to 35 businesses for the city's facade improvement program, with another 17 closed but not yet funded and two others awaiting approval. In some cases, it was the facade program that led to the success of the revolving loan fund. 'So, hey, I'm going to do some landscaping and outside work but they were like, 'Oh wait, I can get a loan to cover that? I also want to get new equipment and spruce up what I'm doing and increase production,' Miller said. 'We need to be infographics, this needs to be everywhere, we need to be telling people, talking about it. It needs to be packaged. We need to be talking about it constantly because this is a great success,' Councilman Mike Ray said. The CPED committee was also informed that all of the council will be asked to amend the city's Community Reinvestment Area program. Among the changes will be 75% tax abatements for housing to be increased from 12 to 15 years, and in some cases, 100% for 15 years — or in the case of mega projects, 100% for 30 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
10-05-2025
- Business
- Yahoo
Governments assist home owners in small ways
Home improvement work is an owner-driven initiative, but government assists homeowners in a variety of ways. One way local governments assist a homeowner is through tax abatements. In Conneaut, homeowners can fill out a form, through the Community Reinvestment Area, which can lead to tax exempt possibilities for a homeowner building a house or conducting remodeling work, Conneaut City Manager Nick Sanford said. 'We certainly offer benefits through the citywide Community Reinvestment Area in the form of tax abatements on property reinvestments during the planning phase,' he said. Sanford said the city would like to get more people involved in the program. 'It was established in 2005 during the Doug Lewis administration and city council at that time, and made effective in the codified ordinances in Chapter 1381,' he said. Sanford said it is available to all property classes, and is a tremendous reinvestment and economic development tool. Ashtabula City Manager Jim Timonere said the city offers some tax abatement options for home remodeling. He said the city encourages people to remodel homes to improve an aging housing stock. Geneva City Manager Joseph Varckette said the city's comprehensive plan, which is in the early stages of funding and planning, will address quality of housing issues as it develops. An improvement to property is also funded on a sidewalk reimbursement program, Varckette said. He said information on how the project works is available on the city's website,
Yahoo
18-04-2025
- Business
- Yahoo
Allen commissioners approve CRA
Apr. 17—LIMA — As discussion continues around the possibility of a data center coming to American Township, the Allen County Board of Commissioners approved a resolution Thursday establishing a Community Reinvestment Area in the vicinity of North Cole Street and Bluelick Road, a designation meant to help incentivize investment. An area with a CRA designation qualifies for property tax exemptions for exisiting property owners to construct or renovate buildings as a means of spurring economic development. Able to last up to 15 years, the exmption could reach up to 100 percent, with any exemption over 75 percent requiring the consent of the affected public school district. The designated area is closer to the original area proposed in early February, covering just under 400 acres bordered by North Cole Street, Bluelick Road, and Irvin Road, reaching midway between Cole Street and West Street. An expanded CRA covering 887 total acres was briefly considered but later rejected. "This is to develop an area in the township that we have been looking at for quite some time in the American Township area because of its current zoning," Allen Economic Development Group President and CEO Cynthia Leis said. "It just incentivizes development in that area." Thursday's vote was a last-minute addition to the board agenda. Commissioner Beth Seibert emphasized that this area only encompasses properties optioned to the Allen County Port Authority that the landowners are willing to consider for the potential data center project. "We have landowners willing to engage in this possible project," she said. "That is what the optioning to the Port Authority means to me." This does not mean a data center has been approved, Seibert said. With Thursday's resolution approved, the application for the creation of the CRA will now be sent to the Ohio Department of Development for approval. Featured Local Savings
Yahoo
08-04-2025
- Business
- Yahoo
Norwood schools sue city, claiming 'irreparable harm' from tax reductions for developers
Norwood City School District says it will suffer "irreparable harm" if the city defines developments, including Factory 52, in a way that offers significant tax reductions. The district's board of education filed a lawsuit against the city of Norwood on Monday in Hamilton County common pleas court. According to the complaint, a 2024 city ordinance is outside the bounds of Ohio legislation and will cost the school district significant funding. The lawsuit stems from roughly three developments that are already using the ordinance to their advantage or in the process of doing so, said Norwood Board Vice President Brandon Atwood. One of those developments is Factory 52. The lawsuit is rooted in the definitions of Community Reinvestment Areas. In Ohio, a city can define a blighted area as a Community Reinvestment Area, also known as a CRA, to encourage revitalization of that area. Property owners receive tax incentives to develop in these areas. If an area is designated a commercial CRA, then the city can mitigate up to 75% of property taxes for up to 15 years for the property owner. Meanwhile, if an area is designated a residential CRA, then the city can mitigate up to 100% of property taxes for up to 15 years for the property owner. While these tax incentives encourage development, they cut into school funds. Local property taxes are one of the primary sources of funding for schools. The Norwood school district argues in the complaint that the city adopted an ordinance in December 2024 that violates the Ohio Revised Code because it permits a structure to be defined as both residential and commercial. This is the case even though Hamilton County would classify it as only commercial, Atwood said. This applies to the current status of Factory 52. The developer of Factory 52 is working on a second development phase that will feature mixed-use space. Rather than defining the entire space as "commercial," and thus, the development receiving fewer tax reductions, the new ordinance would allow the developer to receive up to 75% of property tax abatement on the spaces that are used as commercial spaces and up to 100% tax abatement on the spaces that are used as residential spaces. The school board said in the complaint the "District will suffer irreparable harm, damage, and injury" if the city continues to allow tax abatements in this fashion. It adds, "The District has no adequate remedy at law if the City is permitted to continue the same." "This is precedent-setting in that it could impact every public school district in the state," Atwood said. "Think about if other developers got wind of this and then went to their city councils. ... Talk about significant loss of funding for education." This article originally appeared on Cincinnati Enquirer: Norwood City School District files lawsuit that involves Factory 52
