Delaware County Economic Development Strategic Plan
Delaware County’s comprehensive 2014 strategic plan document
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Annual County Finance Report
Delaware County's Annual County Finance Report
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Financing and Incentives
Enterprise Zones “EZ” (Ohio Revised Code 5709.61)
The Enterprise Zone program provides real property tax incentives for businesses that expand or locate in Ohio (and may provide personal property tax incentives for those qualifying businesses that continue to pay personal property tax). Non-retail business must apply prior to making the investment.
Community Reinvestment Areas “CRA” (Ohio Revised Code 3735.65)
Community Reinvestment Areas allow for local real property tax incentives for residents and business that invest in designated areas of Ohio. Real property investors meeting the local criteria thresholds must apply to the county for the real property tax exemption. Tax exemption on real property only (up to 100%).
Tax Increment Financing “TIF” (ORC 5709.40, 5709.73, and 5709.78)
Tax Increment Financing (TIF) is an economic development tool that assists in financing public infrastructure improvements and, in certain circumstances, residential rehabilitation. A TIF works by locking in the taxable worth of real property at the value it holds at the time the authorizing legislation was approved. Payments resulting from the increased assessed value of any improvement to real property beyond that amount are directed towards a separate fund to finance the construction of public infrastructure defined within the TIF legislation.
The Delaware County Finance Authority was created in 2006 as an economic development tool. Uses of Finance Authority under the Ohio Revised Code chapter 4582:
- Acquire/dispose of property
- Issue revenue and general obligation bonds (taxable or tax-exempt)
- Exercise eminent domain
- Receive state and federal grants and loans
- Levy voted property taxes
For more information on the Delaware County Finance Authority, please visit: www.dcfa-web.com
Delaware County has an active 501 (c)(3) Community Improvement Corporation. Uses of the Community Improvement Corporation under the Ohio Revised Code Chapter 1724 include:
- Acquire, sell, or lease property
- Acquire property from political subdivisions and dispose of same without public sale/bid requirements and below fair market value; allows transfer of land to strategic users
- Can serve as an agent for grants
- May borrow money
- May issue unvoted revenue bonds secured by property lease/mortgage or pledged revenues
For more information on Delaware County’s Community Improvement Corporation, please contact us.