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Committee reviews plan to form Community Improvement Corporation to boost redevelopment
Summary
The Economic Development Committee considered a proposal to create a Community Improvement Corporation (CIC) as a nonprofit vehicle to hold and redevelop property, provide financing, and market sites for business recruitment; attorneys and council members debated powers and oversight.
The Economic Development Committee on March 16 examined a proposal to form a Community Improvement Corporation (CIC), a municipal-sponsored nonprofit intended to support property redevelopment and economic revitalization. Attorney Blake Beachler explained that a CIC is typically organized as a 501(c)(3) and "operates with a degree of municipal oversight," while remaining a separate legal entity for transactional flexibility.
Beachler described broad statutory authority under the Ohio Revised Code, saying a CIC may "acquire, own, lease, manage, and dispose of both real and personal property" and can facilitate transfers "without adherence to traditional competitive bidding and advertising requirements," enabling selection of purchasers based on community benefit rather than strictly the highest bid. He also said the CIC could act as a marketing and development agent, maintain an inventory of available properties, assist with site selection and land assembly, and support nuisance abatement to address neglected or underutilized parcels. The Committee agreed the tool could advance redevelopment but must include oversight safeguards before full Council consideration.
