The Columbus City Council approved an ordinance to amend and modify the Columbus Housing Community Reinvestment Area (CHCRA). This ordinance authorizes real property tax exemptions for residential parcels within the modified CHCRA boundaries, in accordance with the Ohio Revised Code. The exemptions apply to increases in real property taxation resulting from the construction of new housing, the conversion of commercial buildings to residential use, and the renovation of existing single and multi-family housing units. The ordinance also dissolves and absorbs several existing Community Reinvestment Areas (CRAs) into the CHCRA, while explicitly excluding other CRAs and Tax Increment Financing (TIF) areas. It clarifies the rules for combining parcels that are partially within the CHCRA and specifies that only residentially zoned properties or those with a variance for residential use are eligible for exemptions. The ordinance also updates the policy regarding Area Designations for development projects based on the census tract's designation, aiming to encourage mixed-income neighborhoods and economic stability.