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City of Westlake
27700 Hilliard Blvd.
Westlake, OH 44145
440-871-3300
M – F: 8 a.m. – 5 p.m.
27700 Hilliard Blvd.
Westlake, OH 44145
440-871-3300
M – F: 8 a.m. – 5 p.m.
Economic Development Programs
Industrial Development Revenue Bonds | Improvement Target Areas | Community Reinvestment Area |Enterprise Zone | 2007 Tax Incentive Review Meeting | RTA DBE Workshop May 20 in Westlake
| Phone: 440-617-4305 The city of Westlake offers several financial assistance tools to assist industrial, office and commercial development or redevelopment.
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Industrial Development Revenue Bonds |
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Industrial Development Revenue Bonds (IDRB) is a program under state law that allows the Westlake Community Improvement Corporation and Westlake City Council to approve the issuance of revenue bonds. The principal of these reduced interest bonds may be used to cover the cost of land acquisition, building construction and purchase of equipment for manufacturing firms. |
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Improvement Target Areas |
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Improvement Target Areas or ITAs are established by the Cuyahoga County Department of Development and allow for application for small grants ($2,000) and low interest loans (up to $75,000) for up to 12 years. Local business and store owners may use funds to renovate the exterior and interior of commercial and retail buildings. The three existing ITAs are found at:
Cuyahoga County with the assistance of the city of Westlake administers this program. |
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Community Reinvestment Area |
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| The Community Reinvestment Area (CRA) is a program established under state law that allows the city of Westlake to approve real property tax abatement for up to 100% of the taxes for up to 15 years for industrial and commercial expansion, renovation or new construction that creates additional jobs in the city. To date, eleven projects have been approved and constructed receiving some level of real property tax abatement ranging from 50% to 100% from 10 to 15 years. The total investment resulting from the CRA projects is $68.5 million in industrial and office development. Click here for a map of Westlake’s Community Reinvestment Areas. For information and/or an application packet, call 440-871-3300. |
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Enterprise Zone |
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Westlake has an Enterprise Zone under the auspices of Cuyahoga County that allows tax abatement for real property and personal property for new construction, expansion and renovation of industrial buildings. The buildings must be located within the Enterprise Zone created by the city of Westlake in 1994 and approved by the Cuyahoga County Commissioners and State of Ohio. This program allows abatement of property taxes for the additional value of buildings and inventory up to 75% for 10 years. Click here for a map of Westlake’s Enterprise Zone. For information and/or an application packet, call 440-871-3300. |
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Tax Incentive Review Council Meeting |
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The City of Westlake Tax Incentive Review Council met Tuesday, February 13, 2007. For a report on this meeting, click here.
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