Xenia creating Community Improvement Corp. to help with development projects
XENIA — Xenia City Council recently approved the creation of a Community Improvement Corporation thatwould serve to encourage and facilitate economic, industrial and commercial development in the city.
“A CIC has a unique set of abilities, and we think this will spur economic development,” City Manager Brent Merriman said.
Merriman said the corporation will help fix up blighted properties or aid properties that are currently underused. The Xenia CIC also would help with special events like First Fridays and play a role in establishing a downtownMain Street program.
The corporation would have the flexibility to do things the city cannot do, Merriman said, like acquire and sell land and get financing for real estate.
“That brings some flexibility into the redevelopment process,” he said.
The county has a Community Improvement Corporation, Merriman said. The city is “not looking to preempt the county’s” CommunityImprovementCorporation, butwork in partnership with it, he said.
Merriman said city staff recommendsXenia help the corporation with start- up funds from the city’s miscellaneous improvement fund. Merriman said this fund will not be taxpayer dollars, but cash flow from real estate the city owns. He doesn’t yet knowhowmuch start-up capital the corporation will need.
TheCommunity Improvement Corporation will be run by a board of directors. There will be seven members, including an appointed council member, the city manager or his designee, the finance director or his designee, and three non-city officials or employee members who will be appointed to the board.
Council presidentWesley Smith said Xenia Councilwoman Rebekah Dean sent him an email volunteering to be on the board.
NowthatXenia CityCouncil has approved the incorporation of the agency, an application will be sent to the Ohio Secretary of State to approve before the city finalizes the incorporation, Merriman said.