COMMUNITY REINVESTMENT AREA
In 2017, the City of Willard partnered with Huron County Development Council and worked to pass an ordinance creating a Community Investment Area (CRA). The entire City was designated for this area and there are three areas that benefit from this.
1. Residential, owner occupied housing. If you build a residential dwelling containing not more than two (2) owner occupied housing units, the owner of each unit is eligible for a tax exemption on the increase in the assessed valuation resulting from the improvements for a period of 15 years. This would apply to single family homes or condominium with up to two (2) owner occupied dwellings. Dwellings that are rentals are not eligible.
2. Remodeling of Existing Commercial and Industrial Facility. The CRA covers up to, and including, twelve (12) years and up to, and including, one hundred percent (100%) for the remodeling of existing commercial and industrial facilities where the cost of such work is over $5,000. The terms and percentages shall be negotiated on a case by case basis in advance of the remodeling occurring.
3. Construction of New Commercial or Industrial Facilities. The CRA covers up to, and including, fifteen (15) years and up to, and including, one hundred percent (100%) for the construction of new commercial or industrial facilities. The terms and percentages shall be negotiated on a case by case basis in advance of the construction occurring.
Please contact Community Development Director, Carol Knapp at 419.933.2851 x 1250, for more information.