Community Reinvestment Area

Community Reinvestment Area (CRA)

Business/Project

The Community Reinvestment Area is a designated area in which property owners can receive property tax incentives for investing in real property improvements. The City of Wickliffe has designated CRA to encourage revitalization of the existing building stock and the development of new structures. Any property owner meeting the requirements set forth and our planning to undertake a Real Property improvement can apply to the City of Wickliffe and the Department of Economic Development for consideration.

Rate/Terms

The percentage of tax exemption on the increase in assessed valuation from improvements to commercial and industrial property and the term of those exemptions is negotiated on a case-by-case basis in advance of construction or remodeling occurring. The results of the negotiation will be set forth in writing in a City of Wickliffe CRA Agreement. Term and percentage of tax exemptions granted to qualified applicants will be negotiated based on the applicants conformity to the overall objectives and vision of the Strategic Redevelopment Plan adopted as a guideline by Wickliffe City Council.

Eligibility

All residential, commercial and industrial properties consistent with the applicable zoning regulations within the designated CRA are eligible for exemptions under this program. The CRA Program is a public/private partnership intended to promote and expand conforming uses in the designated area.

Incentives

Substantial real property tax exemption for a period of years.

Community Reinvestment Area – Euclid Avenue 2018

RESOLUTION NO. 2019-03
A resolution expanding the City of Wickliffe reinvestment area to further include all other residential, commercial, and industrial properties within the corporation limits of the City; and amending financial allowances for said community reinvestment area.  Read information in link below for entire resolution details.

CRA Wickliffe Resolution 2019-03

Residential Reinvestment Program

The State of Ohio issued CRA Certification to the City of Wickliffe on June 11, 2019.  Any residential properties within the City of Wickliffe are eligible to apply for a CRA.  For the purposes of the Wickliffe CRA, structures exclusively used for residential purposes and composed of four (4) and fewer units shall be classified as residential structures.  Click on links below for more information and an application for the program.

Wickliffe CRA information

Wickliffe CRA Residential Application