Mansfield proposes citywide CRA

Developers could receive tax abatements for added or improved value anywhere in the city of Mansfield if City Council approves a proposed citywide community reinvestment area (CRA), the Mansfield News Journal reports. Mansfield economic development director Tim Bowersock said, “we’re not hurting the existing tax base with this program — we’re trying to spur investment,” according to the article. Bowersock noted nearby communities Galion, Mount Vernon, Ashland and Lexington have CRAs. Mansfield’s program would allow taxes on improved value to be abated for up to 10 to 15 years depending on the scope of the project. For more, read the full article.

Economic Development, Financial Incentives, State Updates