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Council approves ordinance to expand CRA boundaries citywide and standardize incentives
Summary
Delaware City Council on May 12 approved an ordinance to expand the citywide Community Reinvestment Area (CRA) to align with corporate limits, standardize tax-abatement terms and add mixed-income incentives aimed at encouraging multifamily and redevelopment projects.
Delaware City Council on May 12 approved an ordinance to expand the citywide Community Reinvestment Area, set standard limits for tax-abatement agreements and add incentives aimed at encouraging mixed-income housing and redevelopment.
City planning staff presented the fourth reading of Ordinance 20521, which would expand CRA boundaries to the citys corporate limits and codify the types of eligible improvements and typical abatement terms. "We're experiencing and have experienced for the last 20 years robust growth," City staff member Nick Langford told council, arguing the tool would help address a local housing gap.
The ordinance lays out eligible project types including multi-unit residential,…
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