Elyria, Ohio – TAX ABATEMENTS and COMMUNITY DEVELOPMENT PROJECTS APPROPRIATED FOR ANOTHER YEAR by Lorain County Commissioners.
The Tax Incentive Review Council (TIRC) meets yearly (as required by law) for the purpose of reviewing Tax Increment Financing (TIF) projects and residential and commercial Community Reinvestment Areas (CRAs) for the previous calendar year.
The TIRC reported to the Commissioners that eight tax abatements and 34 TIFs are in compliance and should be continued for another year.
Commissioner Lundy explained that these tax abatement incentives are provided to businesses who meet established requirements in terms of jobs provided and investments made. The businesses are reviewed by TIRC annually to confirm that they are in compliance with all requirements. If they are found to not be in compliance the government can claw back any or all abatements previously granted to the businesses.
The commissioners voted unanimously to approve the abatements.
COMMUNITY HOUSING IMPROVEMENT PROGRAM
The purpose of this program is to provide home repairs to one family housing units, which are owned and occupied by low and moderate-income households. Eligible items for this program include: emergency repairs, handicapped accessibility, tap-ins, well and septic repairs or replacements, and lead based paint abatement.
Commissioners approved grants assistance for three homes for CHIP PY20 and one for CHIP PY18. The homes are in Avon Lake, North Ridgeville, Elyria, and Oberlin. The total of the four grants was $176,516.
Prior to the vote to approve Commissioner Lundy pointed out that only two contractors submitted bids for the four projects. He said it is hard to get any interested contractors let alone Lorain County based contractors to bid on these projects. He admitted that the government is known for slow pay, but he encouraged businesses to consider participating in this program.
(Note: This is report of the Lorain County Commissioners Meeting held on May 26, 2021.)