City considering CIC for development


By Scott Halasz - shalasz@aimmediamidwest.com



XENIA — The City of Xenia is looking to take steps to maximize growth and reach higher levels of community prosperity.

City council is considering creating a community improvement corporation which would be an entity separate from the city and would supplement the department of development.

“The Xenia CIC would present an additional platform for economic development and promotion as well as facilitating new opportunities in our community, all while serving also in a civic engagement and community development role as well,” City Manager Brent Merriman said.

A CIC can also obtain financing and acquire and/or divest real estate, giving it more flexibility than a municipality, Merriman added.

The CIC, if approved by council, would largely be project-based, working “hand-in-hand with stakeholders and private investors and developers to target troubled commercial and industrial properties for rehabilitation and reuse,” Merriman told council.

In terms of civic engagement, the CIC could provide assistance for administrative and promotional functions for special events such as First Fridays, and the establishment and maintenance of a downtown Mainstreet program.

The CIC budget is unknown but it would require some start-up funding, which could come from the city’s miscellaneous special improvement fund, according to Merriman. Monies in that fund come from lease payments from property the city owns and not tax dollars.

If council approves the CIC’s creation — which could come at the Sept. 24 meeting — an application will be made to the Ohio Secretary of State for incorporation as a domestic nonprofit corporation.

By Scott Halasz

shalasz@aimmediamidwest.com

Contact Scott Halasz at 937-502-4507.

Contact Scott Halasz at 937-502-4507.