H.B. 110 – Ohio’s recently enacted budget bill – has changed the definition of “Public Infrastructure Improvement” in R.C, 5709.40(A) to add language which will now permit off-street parking facilities to be financed with PILOTs, including those off-street parking facilities in which all or a portion of the parking spaces are reserved, i.e. non-public, when such reserved use is determined to be necessary for economic development purposes.
H.B. 110 also enacts new R.C. 5713.083 which require owners of exempt property
Continue Reading H.B. 110 (Budget) Bill Highlights: New Tax Increment Financing (TIF) Law Changes