Decision Postponed on Proposed Community Revitalization Area
Lakewood Housing Committee decided Monday not to move forward on a proposal to allow the city to offer tax incentives to new homeowners until its next meeting.
The proposal to build 19 townhomes along the Rocky River is still moving forward.
But the plans were slightly stalled Monday night when the Lakewood Housing Committee decided to hold off on a proposal declaring 13 parcels of land along the west side of Sloane Avenue a "community revitalization area."
The plans are to revisit the issue once all of the council members have an opportunity to review the project.
The project is still on track to break ground in the spring of 2012, said Dru Siley, the city's director of planning and development.
The designation would waive property taxes on all new, residential units for up to 10 years, and offer abatements of between 50 and 100 percent of property tax increases resulting from improvements made by the homeowner within that period. The area is zoned only for high density residential housing.
City Council had passed a similar measure in July. But when they petitioned the Ohio Department of Development to certify it complied with the Ohio Revised Code, ODOD requested some “minor revisions… to clarify the criteria for granting tax abatement,” said Siley.
In January, Abode Living submitted a proposal to purchase and demolish three homes in the 1300 block on Sloane Avenue, and build 19 townhomes overlooking the river. In July, the Architectural Board of Review approved the designs for their project, called “Le Metro."
But a new proposal will be submitted to the ABR at their Oct. 13 meeting, after engineers determined minor structural adjustments were necessary to build on the cliff side, Siley said.
If the committee and the ABR pass the proposals next month, construction on the new townhomes is expected to begin in spring 2012.
Monique Smith, council member at-large, did not attend Monday's meeting.