City Manager Brent Merriman said the corporation would help fix up blighted properties or aid properties that are currently underused. The Xenia Community Improvement Corporation would also help with special events like First Fridays and play a role in establishing a downtown Main Street program.
“We need every tool possible in our tool box, and this is just another tool,” Merriman said.
Greene County has a CIC. The Xenia agency would be separate from the county’s.
The corporation would have the flexibility to do things that the city cannot do, Merriman said, like acquire land and get financing for real estate.
“That brings some flexibility into the redevelopment process,” he said.
CCity council has to approve the incorporation of the agency, then the Ohio Secretary of State has to approve the Community Improvement Corporation, before the city finalizes the corporation later this month, Merriman said.
If the Xenia Community Improvement Corporation is approved by city council, city staff recommends Xenia help the corporation start-up funds from the city’s miscellaneous improvement fund. Merriman said this fund is not taxpayer dollars, but cash flow from real estate that the city owns.
The budget for the Xenia Community Improvement Corporation has not yet been determined.
Xenia City Council will meet at 6 p.m. today in the city administration building.
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