A third tax abatement area has been approved covering property and businesses between Monroe Street and Alexis Road, east of U.S. 23.
Sylvania City Council added the third Community Investment Area, or CRA, to its tax abatement list. CRA No. 6, which has been inactive since the 1990s, was reactivated at Monday night’s council meeting.
Homes and businesses within the CRA can receive tax abatements on specified types of improvements on buildings. The districts are expected to spur development because taxes on the increased property value from the improvement can be exempted up to 15 years, depending on the type of remodeling or upgrade done and whether the property is for residential or commercial use.
Further, the boundary of the CRA No. 6 was expanded to include properties north of Alexis Road. Its southern boundary, formerly outlined by McGregor Lane, was pushed down to include Monroe Street, which has many commercial properties, some which are undergoing renovations and would benefit from the tax break, Law Director Jim Moan said.
The CRA’s footprint will also stretch east to include properties from Alger drive to Burgess Road.
The city has a total of nine CRA districts, it recently revised two, and plans to reactivate and extend the terms and boundaries of the others.
In June what is labeled as CRA No. 8, which includes Sylvania's downtown, was enlarged to include areas south of Monroe Street and west of Main Street. It is the only CRA which has been active since 1996. Council also reinstated a previous CRA, labeled No. 1, which also is south of Monroe and abuts the No. 8 district.
Council also unanimously accepted a policy for establishing a housing officer and housing committee. The housing officer will verify construction upgrades. If there is a dispute or an appeal to that decision, matters would then be deferred to the housing committee. One committee will be assigned to each CRA.
Residents can fill seats on the committee, Mr. Moan said. A total of seven members will serve on one committee, two appointed by Mayor Craig Stough, two by council, one by the Planning Commission, and two additional members appointed by the majority members.
Mr. Moan expects council to begin the appointment process in about a month.