Community Reinvestment Area

• The State legislature created the Community Reinvestment Area (CRA) program to provide tax incentives to stimulate investment, development and job creation (economic development).
• Property tax abatements for large data center and industrial projects are very common in Ohio.
• The State CRA program provides for real property tax exemptions of up to 100% for up to 15 years; however, we are only proposing 75% for 15 years for each building constructed.
• Counties, Cities, Townships and Villages grant these abatements to attract these large capital intensive projects as they are enormous economic and job engines for local communities.
• The payroll tax and business income taxes are not part of the abatement.
• The CRA exemption applies to building improvement value.
• Each building will have a 15-year abatement schedule.
• The land value is not abated, just the structures are, so the land purchase price (±$12,000,000) is taxed 100% after we close on the purchase. This alone will provide ±$267,500 in annual unabated permanent tax revenues.
• 25% of the improvement value and 100% of the land value is assessed and taxed as it normally would be. 

Even with an abatement, the data center project will generate far more in taxes than any other potential use of the land.