AMERICAN TOWNSHIP, Ohio (WLIO) — Allen County commissioners have taken the first step toward the possible development of land along a portion of North Cole Street in American Township.
The CRA designation allows for the potential use of tax incentives to attract development.
During a meeting Tuesday morning, commissioners passed a resolution to create a Community Reinvestment Area (CRA) encompassing approximately 345 acres. Officials say the designated area is smaller than what was initially proposed.
The CRA designation allows for the potential use of tax incentives to attract development. Four property owners have signed options, which paves the way for the Allen County Port Authority and the Allen Economic Development Group to pursue development efforts.
“This allows the area to provide incentives for development,” said Cindy Leis, president and CEO of the Allen Economic Development Group. “Oftentimes, our prospects come to us and would like to know what we have in order to incentivize a development project, and we want to make sure that we’re poised to do that for projects.”
The land under consideration is the size required for a proposed data center that has shown interest in locating in Allen County. However, commissioners emphasized that no agreement has been made with the company at this time. The CRA application will now be submitted to the Ohio Department of Development for approval.
