There will be a public hearing on August 1, 2017 at 6:30 PM in the Recreation Hall, Village of Lockland, 101 North Cooper Avenue, Lockland, Ohio 45215 to discuss the creation of Downtown Redevelopment districts.
Ohio Law created a new tool set last year, called a Downtown Redevelopment district. It allows tax revenues generated from new property improvement to be used to improve an area no greater than 10 acres. The district must have at least one historic building that is being or will be rehabilitated. Funds can be used on loans to any buildings in the district and grants to historic buildings. Funds can also be used for public infrastructure and a variety of economic development activities.
Lockland is considering the establishment of two Downtown Redevelopment Districts at 70% for 30 years at the former Stearns and Foster sites and the adjoining business district.
In addition to this public hearing, the proposal must be approved by the Lockland School Board and Lockland Council. A map of these proposed districts is included.