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CLEVELAND HEIGHTS CITY COUNCIL PASSES TWO KEY PIECES OF LEGISLATION SUPPORTING NEW DEVELOPMENT
CLEVELAND HEIGHTS, OH, 8/1/2018 - Cleveland Heights City Council passed two important pieces of legislation related to development initiatives and projects in the City at the July 30 Council meeting.
The first legislation establishes a new City-wide Community Reinvestment Area (CRA) program for Cleveland Heights. Under the new CRA, residential property would be eligible for tax abatements incentives for both new and remodeling construction. The terms of the incentive are based on the strength of the housing market at the Census tract level using a variety of metrics identified by the City. Commercial projects would also be eligible for tax abatements, provided they meet certain criteria, and would be negotiated on a case-by-case basis. The CRA must be approved by the Ohio Development Services Agency before taking effect. "The CRA incentives are designed to help and maintain the beauty and vibrancy of all our neighborhoods," said City Manager Tanisha Briley.
According to Tim Boland, Cleveland Heights Economic Development Director "The ability to provide incentives for new investment through a City-wide CRA is an important strategy for the Cleveland Heights to pursue. We anticipate this will help to retain current residents, attract new ones, and emphasize that the City is 'open for business'."
City Council also approved legislation authorizing the City Manager to negotiate a non-binding Memorandum of Understanding (MOU) with Cedar Lee Connection, LLC, for the development of the City-owned Meadowbrook and Lee site in the Cedar Lee Commercial District. Cedar Lee Connection was selected as the City's development partner for this site as part of an RFQ/RFP process and was one of two finalists to present to Council in June. Cedar Lee Connection's mixed-use proposal includes ground floor retail with residential units on the upper floors.
"Creating a dense, vibrant, pedestrian friendly and unique mixed-use project is a key City development goal for this important site. We believe Cedar Lee Connection can deliver such a project along this vibrant corridor adding residents and visitors alike," Boland said.