Community Reinvestment Area Reform Legislation

House Bill 123, the legislation that would modify the law governing community reinvestment areas, has been a topic of much discussion over the past couple of months.  With construction costs rising, making it harder to develop commercial real estate, economic development incentive programs are more important than ever.  That Bill would expand the use and benefits from CRA-designated districts.  That Bill passed the Ohio House on May 26, 2021.  Mike Sikora and Rick Craven have been involved on behalf of NAIOP in discussing proposed modifications to improve that Bill that would further benefit the commercial real estate industry.