Finance committee backs 50% tax-exemption draft for Stanley Steemer, defers Premier CRA

The Wickliffe Finance Committee recommended creating legislation for a Community Reinvestment Area (CRA) that would offer Stanley Steemer a 50% property tax exemption on decreased property value over 15 years, and declined to approve a separate Premier CRA proposal at this time.

The committee reported at the June 23 City Council meeting that members, including Mayor Sackas and Finance Director Hunter, had reviewed the Stanley Steemer proposal and had no objection. The committee recommended the law director draft legislation to implement the 50% exemption over 15 years.

The committee separately considered a Premier CRA request that would have provided a 100% property tax exemption over 15 years. Committee members noted state rules requiring school-board approval for exemptions above 75% over 10 years and said the school board was likely to challenge approval. Committee members also said the Premier proposal had not passed planning commission and that the city’s CRA council — required by a 2019 resolution to give a recommendation — had not met and the city lacked a current housing officer to advise the process.

Assistant Finance Director Nes told the committee the city had a partial list of five CRA council members but was short two appointed positions. Premier representative Spencer Pazak of 29801 Euclid Avenue attended committee to answer questions and said the project was early-stage and that a CRA exemption would be necessary for participation.

The finance committee reported its recommendations to the full council but did not enact legislation at the June 23 meeting; the recommendation was to have the law director prepare the Stanley Steemer CRA legislation and to defer the Premier CRA until further details and school-board considerations are resolved.