COLUMBUS — The Columbus mayor says future economic tax incentives from the city will be limited to companies whose jobs pay a minimum of $15 an hour.
Democratic Mayor Andrew Ginther also is proposing a new property tax abatement program to spur development in neighborhoods with challenges. Ginther and city council members outlined the plan Monday for the state’s largest city.
“Based on research and input from the community, we have put together new policies that will benefit neighborhoods and residents by spurring development of affordable housing and living wages,” he said.
The tax abatement program, which will take effect this summer, requires developers receiving abatements for apartments and rehabbed single-family houses in better neighborhoods to set aside one of every five units for affordable housing.
The mayor says the city will give special tax incentive consideration to companies locating in needier neighborhoods and on former brownfield sites, and companies encouraging employment of population groups which have been difficult to employ.
Neighborhoods will be placed in three categories based population growth, median household income growth, poverty rate, growth in median rent, housing vacancy rate and mortgage foreclosure rate.