By Joe Shields
The Village of Lincoln Heights has adopted an ambitious plan to further its revitalization.
The Lincoln Heights Council recently voted to designate the entire Village as a “community reinvestment area” (CRA) to provide a financial incentive for investment in the Village. The designation allows the Village to grant real property tax abatements of up to 100% on residential, commercial, or industrial projects within Lincoln Heights for building new structures or remodeling existing ones. Depending on the nature of the project, tax abatements granted under the CRA program can extend up to 15 years.
The CRA is just one component of the Village’s revitalization strategy, which is guided by an aggressive strategic plan that has attracted millions of dollars of public funding and private investment. It is, after all, a prime development opportunity, located across from General Electric midway between Cincinnati and Dayton with I-75 frontage. The Village owns 86 lots, which will facilitate development projects, and the CRA makes those projects more affordable.
The following is Mayor Ruby Kinsey-Mumphrey’s comments on the Village revitalization plan:
The Village of Lincoln Heights has officially embarked on a new initiative aimed at revitalizing the community and attracting both new residents and businesses. The Village Council has approved the establishment of a Community Reinvestment Area (CRA), a bold move that has energized local leaders, residents, and development organizations.
The primary goals of the CRA are twofold: to attract new residents and businesses to the village while providing current residents with the means to improve their homes. The CRA presents valuable opportunities for residents to remodel or expand their properties, and for developers to capitalize on the potential of Lincoln Heights, which is ideally situated between Cincinnati and Dayton with I-75 frontage.
For those looking to make improvements to existing residential properties, the CRA offers a 100% tax abatement for 10 years on projects requiring a minimum investment of $25,000. For new residential construction, developers have two options: a 75% abatement for 5 years or a 50% abatement for 10 years, each requiring a minimum investment of $200,000. These terms also apply to new residential construction on vacant, Village-owned lots. For industrial and commercial properties, including larger residential developments with four or more housing units, the CRA provides tax abatements of up to 100% for up to 15 years, depending on the scope of the project.
Additionally, renters in the community will have new opportunities to transition into homeownership. With the CRA’s incentives for new residential construction and home improvements, the program creates pathways for renters to invest in properties and become homeowners, contributing to the village’s long-term growth and stability.
The implementation of the CRA has garnered strong support from various stakeholders. Key participants include the current residents of Lincoln Heights, the Village of Lincoln Heights City Council, business and community leaders in Greater Cincinnati, Hamilton County elected officials, and development organizations. Together, these groups are dedicated to realizing the CRA’s potential for positive change.
The Village of Lincoln Heights City Council, along with the residents, is particularly excited about the opportunities the CRA presents. Community members are optimistic that the CRA will foster meaningful improvements and further enhance the village as a place to live and do business.
While it is still early in the process to gauge the immediate impact of the CRA, the enthusiasm surrounding its implementation suggests a promising future for Lincoln Heights. The community’s excitement about the potential benefits of the CRA reflects a shared vision for growth and revitalization.
As the Village begins to promote the opportunities available under the CRA, local leaders are optimistic that these initiatives will not only enhance the living conditions for current residents but also draw new families and businesses to the area. The combined efforts of the City Council and the community could pave the way for significant economic development and improvements throughout Lincoln Heights.
The Village of Lincoln Heights’ new Community Reinvestment Area stands as a testament to the community’s commitment to fostering growth and improving the quality of life for its residents. With clear objectives, supportive incentives, and enthusiastic stakeholders, the CRA is poised to be a transformative force in the Village’s future. As developments unfold, the hopes of the community for a revitalized Lincoln Heights will be closely watched and celebrated.