The city of Columbus is going through the process to turn the area just north of Central Middle School into an economic revitalization area. That would allow developers of new townhomes to request tax breaks from the city.
Robin Hilber, the assistant director of community development for the city, said that the city’s Economic Development Commission approved a request Thursday from Central Townhomes LLC, to establish the new target area on the north side of 7th Street between Sycamore and Chestnut Streets.
The company plans to build 16 townhomes for sale at the location. With the commission’s approval, the request will next move to the Columbus City Council at its March 17th meeting for the council’s first consideration, Hilber said. Assuming that goes well, the builders would return at the April 7th meeting for final approval and to request a tax abatement for the properties.
Under a tax abatement, taxes on new development are phased in gradually, normally over a 10 year period, instead of being paid immediately