PORT CLINTON, OH (WTOL) - To drum up some new business in their area, one lake side community wants to offer some tax incentives for potential developers.
At the most recent Port Clinton city council meeting, council voted to approve the expansion of a Community Reinvestment Area here on the northeast end of town in hopes to help revitalize this lake shore area.
This Community Reinvestment Area, or CRA, is the 3rd the city has approved in the last few years.
Once the area is classified, any new capital improvement on buildings or for new businesses within the CRA will qualify the property owners to apply for a tax abatement.
"Whether buildings are torn down and new buildings are built, or the existing buildings that are there end up being renovated for new business opportunities," said Jamie Beier gr ant, Director of the Ottawa County Improvement Corporation.
This new CRA lies between Maple Street and the State Route 2 overpass.
Many businesses are already established in this area, but there are a lot of vacant or undeveloped areas as well.
On top of the possible new businesses, any development projects will also impact the local economy through construction jobs.
"You have to offer something to attract people to come," said Kent Johnson, Port Clinton zoning officer.
"We're not looking for a Jeep Plant, we're just looking for economic impact here, we want some tax base. And this is a definite advantage."
The CRA will need to receive final approval at the state level before those tax incentives can be offered to developers.