Struthers council approves tax incentive for new construction in the city

Struthers City Council on Wednesday passed an emergency ordinance establishing a citywide Community Reinvestment Area, a move designed to spur new construction and remodeling through property tax exemptions.

The ordinance creates the "City of Struthers Community Reinvestment Area" across the entirety of the city's corporate limits. Its purpose is to encourage economic stability, maintain real property values, and generate new employment opportunities in areas that have not seen significant reinvestment.

Under the new program, eligible residential properties (dwellings with up to two units) that undergo new construction will receive a 100% tax exemption on the increased assessed valuation for 15 years. For new commercial or industrial facilities, or improvements to existing ones, the percentage and term of the tax exemption (up to 100% for up to 15 years) will be negotiated on a case-by-case basis before construction begins.

President of Council Michael Patrick has been designated as the "Housing Officer" to administer the program. The ordinance also calls for the creation of a Community Reinvestment Area Housing Council to inspect properties and hear appeals, and a Tax Incentive Review Council to annually review compliance for commercial and industrial agreements.

Council declared the ordinance an emergency measure, citing the need for immediate preservation of public peace, health, safety, and welfare. The measure takes full force and effect immediately upon its passage and approval by the mayor.