Union Township CIC

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About the Union Township CIC

The Union Township Community Interest Company. (CIC) was established in December 2010 as an economic tool for the township. Under Title XVII of the Revised Code of Ohio, Chapter 1702 and 1724, and as more specifically provided in Sections 1724.0110 1724.11, for the sole purpose of advancing, encouraging, and promoting industrial, economic, commercial, and civic development. Overall, the fundamental intent of the CIC is to retain existing commercial businesses while also creating an environment that promotes new investment attracting new businesses and creating new jobs for the township.

General Authority of the CIC

  • To borrow money for any of the purposes of the corporation by means of loans, lines of credit, or any other financial instruments.
  • To make loans to a firm, partnership, corporation, joint stock company, association.
  • To purchase, receive, hold, manage, lease, and to sell real estate and personal property.
  • To acquire business assets, to acquire, reclaim, manage or contract for the management of improved or unimproved and underutilized real estate for the purpose of constructing industrial plants, other business establishments.
  • To serve as an agent for grant applications and for the administration of grants. 
  • To be assigned a mortgage on real property from a mortgagee in lieu of acquiring such real property subject to a mortgage.
  • To do all acts and things necessary or convenient to carry out the purposes of a CIC.

A CIC may be designated by a county, one or more townships, one or more municipal corporations, two or more adjoining counties, or any combination of these political subdivisions. Not less than two-fifths of the governing board of any designated CIC must be composed of mayors, members of municipal legislative authorities, township trustees, county commissioners, or any other appointed or elected officers of such political subdivisions, provided that at least one officer from each subdivision must be a member of the governing board.

The Board of Trustees may contribute funds, supplies, equipment, office facilities, and other personal property or services to a CIC to help pay expenses.