The Union County Community Improvement Corporation is the statutory economic development arm of the community that has unique powers and abilities to spur business growth and development. The Union County Community Improvement Corporation’s purpose is as follows:
“To advance, encourage and promote the industrial, economic, commercial and civic development of Union County in whatever way and by such means as will improve the normal growth, employment opportunities, stability of employment in existing industry, advance of the industrial and commercial life of the community and to stabilize the general economy of the area; to participate in programs for the furtherance of the foregoing purposes and for the correction or improvement of conditions detrimental to the foregoing purposes in the Union County area; and to develop methods for or to assist in the development of methods in the furtherance of the foregoing purposes; and to furnish assistance to projects and undertakings concerned with the foregoing.”
Community Improvement Corporations are authorized under Chapter 1724 of the Ohio Revised Code. “A corporation not for profit may be organized…for the sole purpose of advancing, encouraging and promoting the industrial, economic, commercial and research development of a community or an area.”
In furtherance of those purposes, the corporation is empowered to do the following:
- Borrow money for any purpose of the corporation.
- Issue bonds, debentures, notes, secured or unsecured.
- Secure such mortgage, pledge, deed or trust, or other lien on its property, franchises and rights of every king of nature.
- Make loans to any person, firm, partnership, etc., providing such loans cannot be obtained through normal banking or commercial channels.
- Purchase, receive, hold, lease, or otherwise acquire and to sell, convey, transfer, lease, sublease, or otherwise dispose of real and personal property.
- Acquire goodwill, business rights, real and personal property and other assets of any person, firm, partnership, etc., including pledges, mortgages, etc.
- Mortgage, pledge, or otherwise encumber any property acquired.
- Accept or purchase publicly-owned property or act as agent for such in its disposal.
- Do all acts and things necessary or convenient to carry out the powers of the corporation.
For more information about the Union County Community Improvement Corporation, please contact:
Union County Economic Development Partnership
227 East Fifth Street
Marysville, Ohio 43040