Currently, Springfield Township has two established Community Reinvestment Areas (CRA). CRA I was approved by the Ohio Development Services Agency on April 23, 2019 and CRA II was approved by the Ohio Development Services Agency on October 11, 2019.
A CRA is an economic development tool administered by municipal and county government that provides real property tax exemptions for property owners who renovate existing or construct new buildings. Community Reinvestment Areas are areas of land in which property owners can receive tax incentives for investing in real property improvements. For more information on Community Reinvestment Areas in Ohio, please visit the Ohio Development Services Agency website. Ohio Development Services Agency website.
CRA Residential Projects
The Springfield Township CRA I offers tax exemption on either residential remodeling or new construction projects.