Cleveland City Council passed Emergency Ordinance 297-2023 (the Ordinance), described as community benefits agreement (CBA) legislation on Monday, June 5th. The Ordinance focuses on improving construction contract work allocated to certified Minority Business...
Recently enacted Ohio House Bill 501 (HB 501) expands options for townships desiring to create a tax increment financing (TIF) incentives agreement. Under the HB 501, a township may create a TIF and use payments in lieu of taxes (PILOTs) received through the TIF for...
Ohio Senate Bill 33 (S.B. 33), which makes significant changes to Ohio’s laws regulating Community Reinvestment Area (CRA) incentives, goes into effect April 3, 2023. Introduced in early 2021, S.B. 33 aggressively expands the availability of CRAs, the benefits they...
Ohio provides for property tax exemptions for real property held by 501(c)(3) non-profit organizations. However, the exemption is not automatic. The exemption generally applies to real property owned by a qualifying 501(c)(3) non-profit business, provided that there...
In today’s world, the word “network” is most likely to evoke references to social media. Twenty years ago, the same word would likely induce thoughts of the expansion of broadband, fiber and wireless telecommunications to business and the public. Put simply, a network...
The mergers and acquisition process is often heavily burdened with regulations, complications and minute details for both the selling and acquiring companies’ leaders, lawyers and accountants, just to name a few of the involved parties in a deal. Many deals fall apart...
Unexpected inflation and increasing replacement costs could combine to present an unpleasant surprise to your expectations for property insurance coverage in a time of need. Many tend to think of real estate properties as stable fixed assets, well-positioned against...
At the height of the COVID-19 pandemic, when consumers were itching to stay fit while stuck at home, the popularity of internet-connected stationary bikes and treadmills that you could use at home skyrocketed. Peloton led the pack with its energetic instructors and...
Recent turbulence in various market sectors is creating the need to sharpen analyses and understandings of property tax assessment valuations. In evaluating the need for real property tax assessment appeals, it is critical to understand the roles an appraiser can play...
Recent zoning and land use developments within the City of Cleveland indicate new thoughts and plans for action along Cleveland’s lakefront and riverfront. While Cleveland’s Lake Erie lakefront has long been the subject of speculation about what could be, the city has...