Community Reinvestment Area

The Community Reinvestment Area Program is administered by the city. It grants tax abatements to qualifying projects. City Council approves the applications.

Description
"...encourages rehabilitation and new construction of structures through property tax incentives. Property tax abatement is available for any increased valuation that results from the improvements to the property for both new construction and renovation. One, two, and three unit residential structures within the City of Cincinnati are eligible. Multi-unit, mixed-use, commercial, and industrial structures are eligible based on the project and an agreement that must be executed before construction begins."

Goal
"Stimulate revitalization, retain residents, and attract homeowners to the City of Cincinnati. Commercial CRAs are designed to facilitate the retention and expansion of businesses and the retention and creation of jobs."

LEED-CRA
Program offers property tax incentives to encourage new construction and rehabilitation of commercial and multi-unit residential properties (greater than three units) to Leadership in Energy and Environmental Design (“LEED”) Certified, Silver, Gold or Platinum standards. Property tax abatement is available for buildings that meet LEED standards by promoting environmental friendliness through building construction. Neither residential nor commercial LEED projects have to demonstrate financial need to be approved for the tax abatement. Multi-unit, mixed-use, commercial, and industrial structures are eligible based on the project and an agreement that must be executed before construction begins.

Program Goal: Stimulate revitalization, promote environmental awareness and low-environmental impact development and retain residents. Commercial CRAs for LEED certified development are designed to facilitate the retention and expansion of businesses and the retention and creation of jobs while becoming more environmentally friendly.