Community Reinvestment Area 

A Community Reinvestment Area is a section within the City which contains housing facilities or structures of historical significance, where new housing construction and repair of existing facilities has been discouraged. The Sidney City Council may decide to extend 100% tax abatements on all new real property investments, for terms described later in this policy statement.

The purpose of designating Community Reinvestment Areas within the City of Sidney is to provide the City with an effective tool to encourage, manage, and guide certain desired economic development activity within the designated areas. The expressed intent of the policy governing Sidney Community Reinvestment Areas is that this vehicle be used to:

  • Create development which is consistent with the Sidney Comprehensive Plan
  • Enable the accomplishment of capital improvements, such as the development of roads and public utilities, to service industrial and other facets of the community
  • Enable the City to remain competitive with other local communities in drawing quality economic development activity to Sidney
  • Promote the establishment and retention of manufacturing, commercial and residential projects, whose location within the City will have a long term impact on the community, through the provision of quality employment opportunities and substantial private and public capital investment
  • Promote the retention and expansion of well-established manufacturing and commercial enterprises in the City
  • Provide economic stimulus to other business activities of the City in the form of retail and wholesale goods, services, support facilities and satellite industries

Community Reinvestment Area

The boundaries for the Community Reinvestment Areas are depicted on the following maps:

Contract Required

As a condition of receiving tax incentives through the Community Reinvestment Area Program, the applicant must be willing to enter into a contract with the City. The terms of the contract shall address the applicant's commitment regarding the extent and timing for investment activity and retention and/or creation of new jobs during the term of the incentive. The contract shall provide that failure to perform to the specifications of the agreement may result in the revocation and/or repayment of the granted incentives. The decision to invoke the revocation or repayment of the incentive due to failure of the party receiving the incentive to perform in accordance with the terms of the contract shall be made by the Sidney City Council.