A township, municipal corporation, or county may declare improvements made within the development area of a qualified RTIP to be for a public purpose and exempt from taxation pursuant to section 5709.40, 5709.41, 5709.73, or 5709.78 of the Revised Code, as authorized under those sections.

Terms Used In Ohio Code 5595.042

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Development area: means all parcels of real property located within two thousand five hundred feet of the outermost boundary of the right-of-way associated with any transportation improvement or economic development opportunity described in the memorandum of understanding. See Ohio Code 5595.01

Last updated October 4, 2023 at 3:07 PM

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