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Current as of January 01, 2024 | Updated by Findlaw Staff
(A) On or before the thirty-first day of March each year, a legislative authority that has entered into an agreement with a party under section 3735.671 of the Revised Code shall submit to the director of development a report on all such agreements in effect during the preceding calendar year. The report shall include the following:
(1) The total number of community reinvestment areas designated by the political subdivision, and the total population of each area according to the most recent data available;
(2) The total number of agreements within each area;
(3) The number of agreements approved and executed during the calendar year for which the report is submitted, the total number of agreements in effect on the thirty-first day of December of the preceding calendar year, the number of agreements that expired during the calendar year for which the report is submitted, and the number of agreements scheduled to expire during the calendar year in which the report is submitted. For each agreement that expired during the calendar year for which the report is submitted, the legislative authority shall include the amount of taxes exempted under the agreement.
(4) The number of agreements the terms of which a party has failed to comply with, indicating separately for each such agreement the value of the real property exempted pursuant to the agreement and a comparison of the estimated and actual amounts described in division (B)(8) of section 3735.671 of the Revised Code;
(5) Any changes to zoning restrictions in any part of a community reinvestment area, including a map of the area indicating the new zoning restrictions in the area;
(6) A copy of any agreement approved and executed or amended during the calendar year for which the report is submitted.
(B) Upon the failure of a political subdivision to comply with division (A) of this section:
(1) Beginning on the first day of April of the calendar year in which the political subdivision fails to comply with that division, the political subdivision shall not enter into any agreements under section 3735.671 of the Revised Code until the political subdivision has complied with division (A) of this section.
(2) On the first day of each ensuing calendar month until the political subdivision complies with that division, the director of development shall either order the proper county auditor to deduct from the next succeeding payment of taxes to the political subdivision under section 321.31, 321.32, 321.33, or 321.34 of the Revised Code an amount equal to five hundred dollars for each calendar month the political subdivision fails to comply with that division, or order the county auditor to deduct such an amount from the next succeeding payment to the political subdivision from the undivided local government fund under section 5747.51 of the Revised Code. At the time such a payment is made, the county auditor shall comply with the director's order by issuing a warrant, drawn on the fund from which such money would have been paid, to the director of development, who shall deposit the warrant into the tax incentives operating fund created by section 122.174 of the Revised Code.
(C) The department of development shall publish on its web site a list of all community reinvestment areas within the state, with an accompanying display of their geographical boundaries within each political subdivision. The list shall also include, for each community reinvestment area, a copy of the resolution governing that area and any agreement entered into under section 3735.671 of the Revised Code for any commercial or industrial property within the area. This list shall be updated annually.
Cite this article: FindLaw.com - Ohio Revised Code Title XXXVII. Health Safety Morals § 3735.672 - last updated January 01, 2024 | https://codes.findlaw.com/oh/title-xxxvii-health-safety-morals/oh-rev-code-sect-3735-672/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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