RESOLUTION NO. 57-2025 A RESOLUTION AMENDING EMERGENCY RESOLUTION NO. 45-2007 TO ADJUST THE REQUIREMENTS FOR TAX ABATEMENTS ASSOCIATED WITH REMODELING OF PROPERTY. WHEREAS, the Council of the City of Monroe, Ohio (hereinafter "Council") adopted Emergency Resolution No. 45-2007 on August 14, 2007, establishing the City of Monroe Community Reinvestment Area #2; and WHEREAS, in order to conform economic development with the Downtown Master Plan, the Council desires to amend the requirements for tax abatements for remodeling of property; and WHEREAS, the Council desires to pursue all reasonable and legitimate incentive measures to assist and encourage development in the City, which has not enjoyed reinvestment from remodeling or new construction; and WHEREAS, the renovation of existing structures and the construction of new structures in the Community Reinvestment Area constitutes a public purpose for which real property exemptions may be granted. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF MONROE, STATE OF OHIO, THAT: SECTION 1: Section 4 of Emergency Resolution 45-2007 is hereby amended and restated in its entirety with the following: For a residential property within the City of Monroe Community Reinvestment Area #2, a tax exemption on the increase in the assessed valuation resulting from improvements described in ORC Section 3537.67 shall be granted upon proper application by the property owner and certification thereof by the designated Housing Officer. Residential remodeling applications must be accompanied by expense receipts no more than one (1) year old that meet the cost requirement specified in Section 4 of this Ordinance. Residential applications on new construction projects must be filed with the Housing Officer no later than six (6) months after receiving an occupancy permit. The applicable residential exemptions are as follows: (a) Residential Remodeling: Residential remodeling of dwellings that results in at least $50,000 (fifty thousand dollars) of allowable expenses shall be eligible for an exemption of 100% (one hundred percent) of the added value of the structure for ten (10) years. SECTION 2: To conform the requirements of City of Monroe Community Reinvestment Area #2 with statutory changes to Ohio Revised Code Section 3735.671, the last sentence of Section 5 of Emergency Resolution 45-2007 is hereby deleted. SECTION 3: All provisions of Emergency Resolution 45-2007 not specifically amended herein shall remain in full force and effect. SECTION 4: That it is hereby found and determined that all formal actions of this Council concerning and relating to the passage of this Ordinance were taken in an open meeting of this Council, and that all deliberations if this Council and of any of its committees that resulted in such formal action were taken in meetings open to the public, in compliance with all legal requirements including Section 121.22 of the Ohio Revised Code. SECTION 5: The City Manager is hereby directed and authorized to request certification from the Ohio Department of Development's Director of Development of the findings contained in this Resolution. SECTION 6: This measure shall take effect and be in full force from and after its passage pursuant to Section 7.08 (C) of the Charter. PASSED: ATTEST: APPROVED: Clerk of Council Mayor 9-29,10-6/2025
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