Township of Perry adopts ARC program | News, Sports, Jobs
SALEM – Administrators in the Township of Perry have taken two more steps in their quest to establish a community reinvestment zone to provide residents and businesses with tax relief on new construction or renovations.
The idea behind ARC is to promote improvements and new construction, which in turn can improve the township.
The trustees on Monday approved a memorandum of understanding with Columbiana County commissioners for a CRA program, designating the chair of the trustees Steve Bailey to sign on behalf of the trustees.
Next, the Trustees approved a separate resolution asking the Commissioners to nominate the ARC and seek approval from the State of Ohio.
According to Bailey, the documents are now returning to the commissioners, who are having a meeting today. Commissioners will advertise the ARC in a newspaper for two consecutive weeks, then the application will be submitted to the state with a housing study that examines the town’s housing stock.
“By the end of the month, I hope we will have sent it to the state”, Bailey said at a zoning meeting that followed the directors meeting.
The resolution to establish the ARC stated that the township ARC will only cover the unincorporated area of the township. The town of Salem, which is the incorporated part of the township, already has its own CRA. The resolution allows for the appointment of a Housing Officer to administer the program and the creation of a Community Housing Reinvestment Board and Tax Incentive Review Board. In this case, Zoning / Nuisance Officer Jeff Christopher will become the Housing Officer.
All tax exemptions for housing will be 100 percent of value added after renovation or for new construction. The deadlines include 10 years for the redevelopment of a residential unit containing no more than two units with a redevelopment cost of at least $ 2,500; 10 years for a residential unit of more than two units for which the renovation cost is at least $ 5,000; and 15 years for the construction of new dwellings comprising no more than four dwellings.
For the renovation of existing commercial and industrial structures with a renovation cost of at least $ 5,000, the period can be up to 10 years and up to 100% of the additional value, the period and percentage being negotiated at case by case, before the renovation.
For the construction of new commercial and industrial structures, the period can be up to 15 years and up to 100%, the period and percentage being negotiated on a case-by-case basis, before construction.
The document also describes the composition of the two boards and other rules related to the program.