MEDINA — County Commissioners on Monday approved a resolution to create a community reinvestment area in Sharon Township.
County officials said the township has heard from companies who want to build close to the Interstate 77 interchange at state Route 18 and the 223-acre reinvestment area would accommodate them.
Bethany Dentler, executive director of the Medina County Economic Development Corp., said the Community Reinvestment Area would allow the county to grant 50 percent tax abatement for up to 14 years for new commercial and industrial projects.
“There have been a couple of development opportunities that have come to us, with particular interest in being close to the I-77 corridor,” she said.
“So Sharon wanted to be competitive with our neighbors in Summit County, and to implement some economic development tools for that purpose.”
The proposed area would begin about 750 feet west of Medina Line Road, which is the eastern border of the county, and extend to about 750 feet east of Dunsha Road. The southern border would run about two-thirds of a mile off state Route 18, with an extension at the southwest corner of the area, to include part of Arbor Falls Drive.
The terms of the proposal exactly match those implemented to create the Portside Corporate Park, also in Sharon Township near Medina Municipal Airport.
The reinvestment area would provide 100 percent tax abatement for residential home improvements within the district for the first five years and 50 percent for up to 11 years.
Dentler said her department will publish a notice and put together an application package to send to the Ohio Development Services Agency.
She said that office usually takes about a month to return a final certification of the reinvestment area.
Contact reporter Dan Pompili at (330) 721-4012 or email@example.com.