CRA LEED certifications clarified

Cincinnati City Council has passed unanimously an ordinance intended to clarify the requirements for tax exemptions applied to LEED-certified construction and rehabilitation.

The ordinance amends one passed earlier this year that allows for a Community Reinvestment Area tax exemption for any project that meets the U.S. Green Building Council's standards for LEED certification.

Changes include:

* The inclusion of industrial developments
* Approval of tax exemptions by City Council mandated for all projects, except for single-family residential construction
* A cap of 12 years on the amount of time that a property can receive the tax exemption

Previous reading on BC:
Dohoney seeks clarification on LEED-certified projects (12/13/07)