Community Reinvestment Area
The City of Galion has a Community Reinvestment Area within the full city limits. CRA incentives are temporary abatements of real property tax for eligible renovation or construction projects - both residential and commercial.
Commercial abatements are determined on a case by case basis by the Housing Council, as authorized under Ohio Revised Code 3735.69:
"(A) ...The council shall make an annual inspection of the properties within the community reinvestment area for which an exemption has been granted under section 3735.67 of the Revised Code. The council shall also hear appeals under section 3735.70 of the Revised Code."
Any increased property value after the project is completed, as assessed by the county auditor, gets abated for the negotiated term. Click here to view examples of incentives.
Click here for the Commercial CRA application
Click here for the Residential CRA application
Revolving Loan Fund
The City of Galion can also provide assistance for certain projects through the Revolving Loan Fund. Eligible activities include public off-site infrastructure improvements, or fixed asset financing for land, building, machinery and site preparation directly and primarily related to the creation, expansion or retention of a particular business that results in job creation and retention for persons of low- and moderate-income.
The Crawford Partnership For Education & Economic Development can help assist you with other state and local programs your business may be eligible for. Click here to visit the Partnership’s website.