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Council introduces CRA agreement for proposed 454-unit development
Summary
Council introduced an add-on resolution (33-20-26) to approve a Community Reinvestment Area agreement with VC Links LLC / Vision Acquisitions LLC for an approximately 454-unit multifamily development; residents at public comment warned about legal and fiscal risk and asked whether public improvements primarily benefit private owners.
Council added and introduced Resolution 33-20-26, an add-on to consider a Community Reinvestment Area (CRA) agreement between the city of Findlay and VC Links LLC / Vision Acquisitions LLC (or permitted assigns) for the development of an approximately 454-unit multifamily residential project. The item was added to the agenda by motion and placed for first reading.
A member of the public, Dwight Huley, urged caution and cited Ohio case law (city of Warren) to argue the city risks violating Article VIII, Section 6 of the Ohio Constitution if it uses public funds to finance improvements that solely benefit private property owners. "We're broke. We're on the declining path money wise, and we're taking on additional debt for 21 acres that's gonna develop those adjacent property owners, but it doesn't benefit anybody else," Huley said. Council accepted his materials and thanked him; staff and council did not take final action on the CRA during the Aug. 4 meeting.
