Council committee backs 75% CRA abatement for 122‑unit Black River Forge workforce housing project

The Community Development and Finance committees recommended approval of a 15‑year, 75% Community Reinvestment Area (CRA) tax abatement for Black River Forge, a proposed 122‑unit income‑restricted workforce housing development at 2101 West River Road North.

Taylor Cook of Hilltide Partners described the project scope, financing and public‑private partnerships supporting the development. Cook said the project will build 122 apartments restricted to households at or below 60% of area median income for at least 30 years, on a currently vacant 6.8‑acre site. He said the Ohio Housing Finance Agency reserved about $21.4 million in federal housing tax credits last year and $10 million in state tax credits; the developer is also pursuing tax‑exempt bond financing with the Lorain County Port Authority. Cook estimated the project will support an incremental $1.2 million in additional permanent debt capacity and that the property will increase annual real‑estate tax revenue from about $3,400 today to roughly $37,400 during the exemption period.

Mayor Brubaker and Finance Director Pulaski voiced support, noting the project aligns with the city's affordable‑housing strategy and vacant‑land redevelopment goals. Committee members moved and approved an ordinance authorizing the CRA agreement with an emergency clause to meet construction and financing timelines.