CH to host tax abatement workshops on June 12
The city of Cleveland Heights will host two "Tax Abatement 101" informational sessions on June 12: 8–9:30 a.m. in Council Chambers at CH City Hall, and 6–7:30 p.m. at the CH Community Center.
The sessions will each cover the new Community Reinvestment Area (CRA) program that offers property tax abatements to residential and commercial projects throughout the city. The same material will be covered at both the morning and evening sessions, which are being offered to accommodate diverse schedules.
These free events are open to real estate brokers (residential and commercial), developers (residential and commercial), home builders, residents, and other stakeholders interested in learning more about this new program, which dramatically increases the impact and reach of the city's CRA.
The new program:
- Applies to both residential and commercial uses
- Provides incentives for both new construction and remodeling activities
- Creates a tiered structure of incentive levels based on targeted reinvestment criteria and minimum investment levels for the construction of new, and remodeling of existing, single-family and two-family dwellings, townhomes, condominiums, conversions and multi-family structures
- Allows for mixed-use/commercial/office developments (both new construction and remodeling of existing structures) to be eligible for incentives of up to 12 years for remodeling and 15 years for new construction projects on a negotiated, case-by-case basis
City staff will provide a brief overview of the program and will be on hand to answer questions from attendees.
In advance of June 12, resources and documents can be found on the city's CRA Web page: www.clevelandheights.com/1075/Community-Reinvestment-Area-CRA.
Brian Anderson is the business development manager for the city of Cleveland Heights.