CITY OF SHELBY
WHAT IS THE CRA PROGRAM?
The City of Shelby created its CRA Program in 1998 and amended it in 2008
(Ordinance 9-2008).
Community Reinvestment Areas are areas of land
in which property owners can receive tax incentives for investing in real
property improvements. The City of Shelby CRA includes the entire
city limits as of June 12, 2008. The CRA Program is a direct
incentive tax exemption program benefiting property owners who renovate
existing or construct new buildings.
PROGRAM GUIDELINES
RESIDENTIAL
Tax incentives are available for both the remodeling of structures or the construction of new. The terms are as follows:
Remodeling: One Hundred Percent for the remodeling of residential structures for ten years (term same for all) containing not more than two housing units and upon which the cost of remodeling is at least two thousand, five hundred dollars ($2,500), as described in Ohio Revised Code 3735.67
New Construction: Fifty percent of the value of new residential structures for fifteen years (term same for all) for the new construction of dwellings containing not more than two housing units, as described in Ohio Revised Code 3735.67
COMMERCIAL
Remodeling: Twelve years (negotiated – up to twelve years) for existing commercial and industrial facilities, to be negotiated on a case-by-case basis in advance of construction or remodeling occurring.
New Construction: Fifteen years (negotiated – up to fifteen years) for new commercial or industrial facilities, to be negotiated on a case-by-case basis in advance of construction occurring.
If remodeling qualifies for an exemption, during the period of the exemption, the dollar amount of the increase in market value of the structure shall be exempt from real property taxation. If new construction qualifies for and exemption, during the period of the exemption the structure shall not be considered to be an improvement on the land on which it is located for the purpose of real property taxation.
WHERE DO I APPLY?
Applications are available on-line www.shelbyohio.org/cra.htm or available at Shelby City Hall, 43 West Main Street, Shelby, OH 44875.
Applications for residential must be filed with the Housing Officer no later than six months after completion of construction. Commercial agreements are negotiated on a case-by-case basis and an agreement must be signed before construction begins. Joe Gies, City Project Coordinator, serves as the Housing Officer for this program.
For more information, contact Joe Gies, Housing Officer, at 419-342-3600 or joegies@shelbyohio.org
FORMSResidential CRA Application
Commercial CRA Application
Shelby Ordinance 9-2008
Ohio Department of Development Community Reinvestment Area Summary