Availability of incentives.
Columbus City Codes § 4565.06
in effect4565.06 - Availability of incentives.
(A) CRA tax incentives for Development Projects containing four (4) or more Housing Units within post-1994 CRAs designated Market Ready, Ready for Revitalization, or Ready for Opportunity require the Project Sponsor to apply for an Incentive and enter into an agreement with the City per the deadlines included in the Director's Rules. A Project Sponsor may request that this time-frame be extended for good cause, subject to approval by the Housing Officer. The agreement required herein must include the terms specified in Section 4565.07 for Market Ready, Section 4565.08 for Ready for Revitalization, and 4565.09 for Ready for Opportunity.
(B) Development Projects shall not be artificially divided to avoid the agreement requirements within this Chapter.
(C) For a Development Project involving the remodeling of a structure containing not more than three (3) Owner-Occupied Housing Units, and that otherwise qualifies for an Incentive, the Project Sponsor shall be required to apply for an Incentive and enter into an agreement with the City per the deadlines included in the Director's Rules and if the remodeled structure for homeownership is located in a Market Ready or Ready for Revitalization area, all remodeled Housing Units within the Development Project must be Affordable Housing Units affordable to owners with Household Incomes that are at or below one hundred twenty percent (120%) AMI and for which the annual Cost of Ownership does not exceed thirty-five percent (35%) of the Household's Gross Annual Income to be eligible for the Incentive. Payment of a fee is not available in lieu of meeting this affordability requirement for owner-occupants in three or fewer Housing Units that have been remodeled.
If the remodeled structure containing not more than three (3) Housing Units for rental is located in a Market Ready or Ready for Revitalization area, at least one (1) remodeled Housing Unit within the Development Project must be an Affordable Housing Unit for rent to occupants with Household Incomes that are at or below sixty percent (60%) AMI to be eligible for the Incentive.
(D) For a Development Project involving the construction of new structure(s) resulting in not more than three (3) Owner-Occupied Housing Units, and that otherwise qualifies for an Incentive the Project Sponsor shall be required to apply for an Incentive and enter into an agreement with the City per the deadlines included in the Director's Rules and if the new structure(s) will be located in a Market Ready or Ready for Revitalization area, all Owner-Occupied Housing Units within the Development Project must be Affordable Housing Units, as defined in this chapter, for occupants whose annual Household Income is at or below one hundred twenty percent (120%) AMI and for which the annual Cost of Ownership does not exceed thirty-five percent (35%) of the Household's Gross Annual Income to be eligible for the Incentive. Payment of a fee is not available in lieu of meeting the Affordable Housing Unit requirement for Development Projects consisting of three or fewer Owner-Occupied Housing Units. If the new structure contains three or fewer rental Housing Units and is located in a Market Ready or Ready for Revitalization area, at least one (1) new Housing Units for rent within the Development Project must be affordable to occupants with Household Incomes that are at or below sixty percent (60%) AMI to be eligible for the Incentive.
(E) For a Development Project within Ready for Opportunity Areas that include three or fewer Housing Units (whether rented or Owner-Occupied) shall receive an abatement of property taxes on one hundred percent (100%) of the increase in the assessed valuation of the structure(s) for a period of fifteen (15) years. These Development Projects in Ready for Opportunity Areas do not require the Project Sponsor to enter into an agreement with the City, however, the Project Sponsor must apply for the Incentive per the timeframe in the Director's Rules.
(F) The statement of required terms in Sections 4565.05, 4565.07, 4565.08, and 4565.09 shall not be construed to limit the authority of the Housing Officer to prescribe additional agreement terms by rule, subject to approval as to form by the City Attorney, provided such rules are consistent with the intent of this Chapter to incentivize the construction of Affordable Housing Units in CRAs in consideration of receiving an Incentive.
(Ord. No. 3447-2023, § 1, 12-11-2023; Ord. No. 1907-2025, § 1, 7-28-2025; Ord. No. 3328-2025, § 1, 12-15-2025)
Source: City of Columbus, City Codes and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/oh/columbus/codes/code_of_ordinances?nodeId=TIT45HOCO_CH4565AFHOCOREARINPO_4565.06AVINFetched: 10/27/2026