Effective: November 22, 1973
Latest Legislation: Senate Bill 90 - 110th General Assembly
When any municipal corporation or agency or authority thereof has acquired land constituting or being a part of a blighted area, the governing body of the municipal corporation, or the agency or authority, by resolution, may make such land available for use for a project by a community urban redevelopment corporation, qualified under Chapter 1728. of the Revised Code, by private sale or lease, upon such terms and conditions as are agreed upon by the governing body or agency or authority and the corporation. Any such resolution shall include a determination of the use value of the land, and the price or rental to be paid therefor by the corporation shall not be less than the amount so determined if made available by sale, and shall not be less than a fair return thereon if made available by lease.
Structure Ohio Revised Code
Title 17 | Corporations-Partnerships
Chapter 1728 | Community Redevelopment Corporations
Section 1728.01 | Community Redevelopment Corporation Definitions.
Section 1728.02 | Required Provisions in Articles of Incorporation.
Section 1728.03 | Sale of Blighted Area Land.
Section 1728.04 | Restrictions on Business Activities.
Section 1728.05 | Loans, Guarantees, Acquisitions.
Section 1728.06 | Written Application to Municipal Corporation for Approval of Project.
Section 1728.07 | Form of Financial Agreement for Approved Project.
Section 1728.08 | Permissible Provisions in Financial Agreement.
Section 1728.09 | Representations and Covenants as to Management or Operation of Project.
Section 1728.10 | Exemption From Taxation.
Section 1728.11 | Semi-Annual Service Charge in Lieu of Taxes.
Section 1728.111 | Annual Service Charge in Lieu of Taxes.
Section 1728.112 | Urban Redevelopment Tax Increment Equivalent Fund.