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CRA action pending as annexations move forward; residential builds begun now may qualify
Summary
Council reported the proposed Community Reinvestment Area depends on two pending annexations and, if enacted by August, would apply to houses started now but not completed by enactment; commercial and industrial properties would be ineligible.
Council heard an update that the village's proposed Community Reinvestment Area (CRA) remains pending while annexations by Cory Gerlock and Troy Grieshop are finalized. Staff said that if the annexations and CRA are completed by August, residential properties with construction started now but unfinished at enactment would be eligible for CRA benefits; commercial and industrial properties would not qualify under the current proposal.
Aaron Rengers told council he would like the CRA submitted this year and staff will continue work to finalize annexation paperwork and enactment steps. No formal CRA ordinance was enacted at the July 6 meeting and council took no vote on the CRA itself.
