Effective: October 10, 1963
Latest Legislation: Senate Bill 60 - 105th General Assembly
The financial agreement provided for in section 1728.07 of the Revised Code shall contain detailed representations and covenants by the community urban redevelopment corporation as to the manner in which it proposes to manage or operate the project. The financial agreement shall further set forth the plans for financing the project, including the estimated total project cost, the amortization rate on the total project cost, the source of funds, the interest rates to be paid on the construction financing, the source and amount of paid-in capital, the terms of mortgage amortization or payment of principal on any mortgage, and the rental schedules and lease terms to be used in the project.
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.