LIMA, Ohio (WLIO) - The Lima City Council and Mayor Sharetta Smith are considering a potential residential tax abatement for a local housing project.
Shawnee Lakes Apartments, located just off Allentown Road, has submitted a tax abatement application seeking a 75% abatement on the increased property tax valuation over a 15-year period. The abatement would support the development of six new multifamily residential buildings, adding a total of 36 housing units. On Monday night, the Lima City Council placed the abatement on a second reading but will continue discussions as the city works to expand housing opportunities.
“The goal of this project is to meet the demand for housing units all across the city. We need housing at every price point and every corner of our city, and so, we're excited to support this request as an incentive to bring on those additional 36 units,” says Mayor Sharetta Smith, City of Lima.
The project investment is estimated at approximately $4 million. Construction is scheduled to begin by the end of May and be completed by June 2026. In other business, the council passed legislation to increase the pay scale for part-time seasonal employees to a value not exceeding $16 per hour.
