Most of Bellefontaine’s northwest sector is now part of a community reinvestment area following Tuesday’s City Council action, opening the way to offer property tax abatements for a variety of development projects.
Council members approved a resolution expanding its CRA which was limited to the manufacturing district around the Crossroads Business Center on the city’s north end.
Developers of commercial, manufacturing and housing projects will be able to ask for limited tax breaks from the city.
Bellefontaine’s community reinvestment area is expanding from the yellow shaded area of the city to include the area shaded pink, stretching from Elm Street, west along Sandusky Avenue to County Road 32. The move opens the way for developers of qualifying commercial, manufacturing and housing projects in the city’s northwest sector to seek property tax breaks. (GRAPHIC | CITY OF BELLEFONTAINE)
Paul Benedetti, who heads up economic development as part of his roles at the Logan County Chamber of Commerce and Community Improvement Council, maintains such incentives help the city and county attract new companies and retain existing employers.
The expanded CRA covers property in residential neighborhoods and undeveloped commercial properties in the city limits from the west side of Elm Street, north of Sandusky Avenue and west to Link Construction Inc.’s industrial park along County Road 32.
Read complete story in Wednesday’s Examiner.
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