Tiffin Community Reinvestment Area #5

Diverse Development received a 50 percent, five-year CRA tax exemption.

Tiffin Community Reinvestment Area (CRA) #5 is located in the West Market Street area in Tiffin. It is a CRA established after the major overhaul of state law in 1994. Such a CRA is often referred to as a “post-1994” CRA. Please refer to the main article on CRAs for general information. This article provides information on the benefits and process for obtaining a CRA tax exemption in Tiffin CRA #5. You can find the legislation and map here – legislation, map.

Benefits are Negotiated

In a post-1994 CRA, the benefit levels are negotiated and subject to approval by the Tiffin City Council. The maximums allowable by the city statute are as follows:

  • Renovation of residential property (two units or less) – maximum of 10 years, 100 percent
  • Renovation of residential (more than two units), commercial or industrial property – maximum of 12 years, 100 percent
  • New construction of residential, commercial, or industrial property – maximum of 15 years, 100 percent

There are currently three Tiffin CRA #5 agreements and all three were for new construction (two commercial, one residential). They were 50 percent agreements for five years and each had compelling circumstances (e.g., an existing structure with asbestos had to be remediated, demolished, and removed prior to new construction.)

Process

  • Step 1 – Prior to starting the project, contact Nick Dutro at TSEP, dutro@tiffinseneca.org or by cell at 419.767.0328 Nick will discuss and assess the overall project, gather information, and prepare a Project Summary for the company’s review.
  • Step 2 – Based on the approved Project Summary, he work to prepare an offer (of incentives and assistance) letter. If the project is eligible for CRA and deemed appropriate, Nick will then work with the local negotiation team to confidentially discuss the project and determine the percentage and term. He will also determine any needed additional steps before an offer (of incentives) letter can be prepared.
  • Step 3 – The offer letter is prepared and submitted to the company.
  • Step 4 – If the company accepts, an action plan is developed and submitted to the company to (1) obtain official approval for the exemption as well as (2) communicate publicly (official approval meetings are public meetings, and local media is always present).
  • Step 5 – Once the company approves, the action plan is set into motion. Once the prospective project is made public, the County Auditor and City Engineer will be notified.
  • Step 6 – Any additional paperwork needed to finalize the exemption will be completed (e.g., execution of legal agreement with the City of Tiffin).

Program Contact

For additional information or questions, please contact Nick Dutro, Downtown Main Street Manager at TSEP, dutro@tiffinseneca.org or by cell at 419.767.0328

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