The Community Improvement Corporation of Ravenna, Ohio (CIC)
The Community Improvement Corporation of Ravenna, Ohio (CIC), an Ohio not for profit corporation, was incorporated on January 4, 1963. Mayor Bica has requested that the CIC resume the activities as declared by Ravenna City Council Resolution No. 1996-88, “to enter into an agreement with a Community Improvement Corporation to provide additional authority and resources for the economic development of the city.”
The intended purpose of the CIC is to borrow money, to make loans, to acquire the good will, business rights, real and personal property, etc. for the promotion of economic development for the City of Ravenna and to do all acts and things necessary as set forth in Chapter 1724 of the Ohio Revised Code.
Ohio Revised Code Chapter 1724.10: Political designating community improvement corporation as agency for development
“Not less than two-fifths of the governing body of any economic development corporation designated as the agency of one or more political subdivisions shall be composed of mayors, members of municipal legislative authorities,…, or any other appointed or elected officers of such political subdivisions…”