CRA Tax Abatement

Marysville Community Reinvestment Area Program

Purpose

In 2002, the Marysville City Council approved the continuance of a Community Reinvestment Area (CRA) in the Uptown District and its surrounding residential areas. The main purpose of the CRA is to encourage development, redevelopment, and revitalization in the older areas of Marysville in order to improve economic stability, maintain real property values, and create new employment opportunities.

Eligibility

Residential (no more than two units in a building), commercial, and/or industrial property owners in the CRA designated zone who plan to make structural improvements meeting the CRA requirements may qualify. Uptown area commercial buildings with residential units on the upper levels will be considered commercial buildings.

Benefits & Requirements

Qualifying residential properties may receive a 75%, seven year real property tax abatement for new improvements for which the cost of remodeling is at least $7,500. Said residential buildings shall not have more than two residential units, shall be owner occupied, and shall not have commercial on the first floor. The review and approval of the Marysville Housing Officer is required.

Qualifying commercial and industrial properties may receive up to a 100%, ten year real property tax abatement for new improvements for which the cost of the remodeling is at least $10,000. Approval is on a case-by-case basis and is determined by the amount of investment and number of jobs created or retained.

Qualifying commercial and industrial properties may receive up to a 100%, fifteen year tax abatement for new building construction for which the cost of the new construction is at least $350,000. Approval is on a case-by-case basis and is determined by the amount of investment and number of jobs created or retained.

Criteria for Approval

The City of Marysville shall consider the following when reviewing each application:

  • Residential building is less than two units and is owner occupied;
  • Use of building shall meet zoning and building regulations;
  • Shall encourage private investment that will repair, construct, or improve a building;
  • Commercial and industrial projects that create new employment, restore historical significance, or promote revitalization of the Uptown area are preferred.

Compliance

Every project that receives a tax abatement is reviewed annually by the City of Marysville Housing Council. The Housing Council is comprised of business owners, citizens, and City officials. If a property owner does not comply with the terms and conditions of the approved application, the tax abatement may be removed by action of the Housing Council. Therefore, it is important that the property owner is realistic and plans to satisfy the pledged construction values, jobs created, and the project's impact when completing the application.

Process

  1. Property owner contacts the Union County-Marysville Economic Development Partnership to discuss the program. 
  2. Once compliance is determined, property owner submits CRA Application for review.
  3. The City reviews and determines whether the application meets guidelines; application is approved.
  4. Prior to construction, property owner submits and receives zoning approval. Design Review Board approval may also be required. Please contact the City Zoning Administrator at (937) 645-7359. 
  5. Prior to construction, property owner submits and receives an approved building permit. Please contact the Union County Building Department at (937) 645-3018.
  6. After construction is complete, the Union County Auditor determines the value of improvement and formally institutes the abatement.

Questions?

To discuss the CRA Program or a potential project, please contact the Union County-Marysville Economic Development Partnership at (937) 642-6279.

Resources