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The Business Journal Online    January 2004

East Palestine Development Offers 5-Year Tax Abatement

01/23/04

BOARDMAN, Ohio ­ Coldwell Banker and the City of East Palestine are taking advantage of Ohio law permitting tax abatements on residential development to encourage the growth of Leslie Run Estates.

Through the Ohio Department of Development, any city is free to utilize the tax abatement, according to East Palestine City Manager Gary Clark. While cities like Youngstown use the commercial side, not many cities are using the residential tax abatement to develop. Buyers will not pay property tax on their new construction home for five years. They will only pay the tax on the lot, which is minimal.

"We really wanted to give a boost to new construction in the city, and we wanted to control it. We wanted the highest quality and design for a subdivision and we want to be able to point to Leslie Run when we develop in the future," Clark says.

"The city had owned the land since the 1940s, and it was just pasture that we had been leasing to a neighboring farmer," Clark says. "We had utility extensions drawn up in the 1960s, so we already knew how we could get utility lines out to the 40-acre parcel." Cricket Construction of Lowellville will be building homes on 29 lots in Phase 1 and 23 lots in Phase 2.

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