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Council approves transfers of community reinvestment-area abatements; discussion clarifies annual administrative fees
5768325 · September 15, 2025
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Summary
Council approved two measures transferring community reinvestment-area (CRA) tax abatements to new owners and clarified the related administrative fee structure and term dates during debate.
Lorain City Council approved ordinances transferring existing community reinvestment-area (CRA) tax abatements from Park Square Lorain Holdings LLC to GTX Properties LLC and from Bennington Investments LLC to 6150 Park Square LLC.
Council members questioned the terms and fee schedule tied to the abatements. City…
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