History

The Ohio Community Reinvestment Area Program legislation became effective in November of 1977. In 1979 Troy City Council authorized use of the program for Troy residents in its first CRA area, the Historic District (see map). Four areas would be added, but in 1998  Council closed these and reaffirmed the CRA for the Historic District.

Community needs

The financial burden of construction can keep Troy home owners from making the  improvements they need. The CRA helps offset those costs, and  makes home improvement more feasible.

Benefits to the community

Real property tax exemptions can be granted for an increased property valuation that results from improvements or new construction in the designated areas.

Purpose

The Community Reinvestment Area Program is designed to encourage reinvestment in downtown homes and to preserve the historical value of buildings in Troy.

Click on the following links for more information regarding the CRA. These documents are in PDF format and you must have Acrobat Reader installed on your computer. In most cases, you already have it. If you need a copy, or want to update your current version, click HERE to download and install a free copy.

Brochure

Guidelines

Residential Application
Residential Certification

Non-Residential Application
Non-Residential Certification