Lebanon plans CRA that would provide incentives for $18M development

Lebanon City Council plans to create a new community reinvestment area along the city’s North Broadway corridor that would allow a proposed $18-million residential and commercial project to receive tax abatements, the Dayton Daily News reports. That development, at the site of the city’s maintenance garage, would include “18 town homes, 86 apartments, a brewpub and two restaurants,” according to the article. The city projects the development will help generate $65,000 in annual income tax and $1.1 million in “annual total spending power.” Developer Jim Cohen’s proposal said the project will provide parking and other amenities, and will facilitate commercial and residential development close to the downtown area. For more, read the full article.

Economic Development, Financial Incentives