Quick Reference  |  Summary

Downtown Redevelopment District Program

Purpose

Downtown Redevelopment Districts (DRD) help municipalities in Ohio to promote the rehabilitation of historic buildings, and encourage economic development in commercial, mixed-use commercial and residential areas, and fund transportation improvements that will benefit the areas.

Program

DRDs allow the legislative authority of municipal corporations to designate an area an DRD and the increase in assessed value of real property (improvements) to parcels within a DRD can be exempted. Amounts exempted are paid as service payments in lieu of taxes to be utilized for specifically enumerated purposes. An Innovation District within the proposed or existing DRD may be used for attracting economic development efforts of business incubators and accelerators.

How Much

Municipalities within Ohio

Contact

Municipalities within Ohio administer this tax incentive program.

For General Program Inquiries contact the local DRD administrator for the municipal jurisdiction where it is located.

Ohio Development Services Agency’s program relationship is with local communities including (1) certifying the DRD and/ or Innovation District, (2) acting as a clearinghouse for the tax incentive agreements, (3) generating and collecting the annual reports, and (4) providing technical support to local communities. For inquiries: Daniel Strasser, (614)728-6778.

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