Stark commissioners create boundaries for Canton Township's new tax abatement zone
CANTON – The Stark County commissioners are moving forward with plans for a new tax abatement zone in Canton Township.
The three-member board approved a resolution to establish boundaries for a Community Reinvestment Area in the township during its regular meeting Wednesday. The program will allow eligible commercial and industrial companies in the area to receive tax exemptions on future construction or renovations.
County Administrator Brant Luther said officials hope eligible commercial and industrial businesses are able to take advantage of the program and help the entire area.
The tax-break zone is known as the Raff/Gambrinus/Faircrest Community Reinvestment Area. The area is approximately 970 acres. It is bound by Canton city boundaries on 13th Street NW to the north and Faircrest Street SW/SR 627 to the south. It follows Gambrinus Avenue SW to the east and the line between Perry Township and Canton Township along Whipple Avenue SW to the west.
According to the Ohio Revised Code, a tax exemption for industrial or commercial properties is up to 100% for 12 years for the remodeling of existing commercial and industrial facilities with costs of at least $5,000, and 100% for 15 years for construction of new commercial or industrial facilities.
The term and percentage will be negotiated on a case-by-case basis ahead of remodeling or construction.
The commissioners designated a housing officer to administer the program and also created a Community Reinvestment Housing Council that will make an annual inspection of properties that received an exemption.
Luther said the next step is for the zone to be assigned a number by the Ohio Department of Development and be advertised in the newspaper.
"Then at that point it will be a valid and active Community Reinvestment Zone," he said.
The Canton Township trustees adopted a resolution in support of creating the Community Reinvestment Zone earlier this month.
In other action Wednesday, the commissioners:
Awarded the Stark County engineer's Strip Avenue Improvement Project contract to Akron-based Lockhart Concrete Co. for a total value of $3.6 million. The project will primarily be funded through grants. Jackson Township will contributed $50,000. Any remaining costs will be paid for using the county's motor vehicle funds.
Awarded a contract for the Welty Road Bridge Replacement Project to Canfield-based Shook Co. The contract has a total value of $747,474 and will be paid for through federal grants.
Reach Paige at 330-580-8577, email@example.com or on Twitter @paigembenn.
This article originally appeared on The Repository: Stark County commissioners set limits for tax abatement zone