About the CIC
Delaware County has designated the CIC as an agency of the County for the industrial, commercial, distribution, and research development of the County, in accordance with Ohio Revised Code §1724.10. The CIC works in cooperation with other partner jurisdictions to include the Cities of Delaware and Sunbury. The County’s Office of Economic Development provides administrative support to the CIC. The CIC provides unique capabilities to assist the County and its partner jurisdictions with economic development.
CIC capabilities include, but are not limited to:
- Acquire and sell property (real, personal, stock, partnership, etc.)
- Borrow money for economic development projects through traditional means
- Issue un-voted revenue bonds (IDBs) or notes (federally taxable)
- Operate a revolving loan fund for economic development projects
- Serve as an agent for grant applications and administer grants
- Charge fees-for-services to political subdivisions
- “All acts and things necessary or convenient” to carry out purposes of R.C. Chapter 1724
- Enter into economic development strategic plan with county or municipality
- Sell or lease political subdivision’s (excess) property without complying with public sale requirements and sell for less than fair market value
- Receive political subdivision’s (excess) property without complying with competitive bidding
- Not required to comply with prevailing wage laws
- Can make loans to any person, firm, partnership or corporation
CIC limitations include:
- Can’t levy taxes
- Can’t issue tax-exempt bonds
- Can’t appropriate or condemn property
- Can’t sell or lease property outside of industrial, commercial, distribution, research end uses
- Can’t grant tax abatements
- Can’t directly receive County CDBG
- Required to follow Ohio’s Sunshine and Public Records laws