This week, Bexley City Council is scheduled to hold “the second reading of legislation that would create a Community Reinvestment Area [CRA]” in conjunction with a plan the mayor proposed to redevelop Bexley’s southwest corner, ThisWeek Community News reports. Bexley Mayor Ben Kessler’s proposed plan calls for the city’s Community Improvement Corporation to purchase the rental properties on Ferndale Place and Mayfield Place just north of Livingston Avenue, renovate those properties, and then rent them out and reinvest the rental income in the area, according to the article. The CRA, if approved by the council, would extend from Livingston Avenue north to Astor Avenue, and from College Avenue west to Alum Creek. The ordinance lists “abatements ranging from a 50 percent, five-year abatement for the renovation of a one- or two-family dwelling, to a 75 percent, 12-year abatement for new construction of a mixed-use facility,” ThisWeek reports. The third, final reading and public hearing for the ordinance is scheduled for October 13.
Bexley considering CRA for redevelopment of southwest corner of city
