§ 104.20. Income tax for community learning centers.

In addition to the tax imposed pursuant to Section 104.03, an annual tax for the purposes set forth in this section is imposed on and after January 1, 2004 through December 31, 2033, at the rate of 0.25% per year, on all taxable income. Notwithstanding Section 104.017, the funds collected under the provisions of this section shall be paid into a separate fund, the Community Learning Center Income Tax Fund, and applied solely for the purpose of acquiring, constructing, renovating, repairing, enlarging, adding to, reconstructing, maintaining, equipping, furnishing, acquiring interests in real property in connection therewith, improving the sites thereof, and otherwise improving community centers, in accordance with Section 755.16 of the Revised Code, and paying debt service and other costs relating to the financing thereof. Such community centers, hereinafter referred to as Community Learning Centers, are to be used for governmental, civic, or educational operations or recreational activities or such other purposes as permitted by law. The City is authorized to enter into cooperative agreements with the Akron City School District to provide for the Community Learning Centers within the City. A cooperative agreement may provide for the term of the agreement, the applicable allocation of the income tax proceeds, the transfer of funds from the City, which may be by grant, loan, payment under such agreement, or otherwise, the ownership, use, operation and maintenance of the Community Learning Centers, cooperation with State commissions or agencies in the financing of the Community Learning Centers, and other provisions as determined by the parties thereto. In the event that other funding for Community Learning Centers or related educational facilities becomes available to the Akron City School District for the specific purpose of providing Community Learning Centers or related purposes from the County through sales tax proceeds or otherwise or from the State or Federal government beyond the amount of the State funds currently allocated for permanent improvements to the Akron City School District, the City by ordinance shall, on a biennial basis, reduce the income tax rate provided in this section from 0.25% to a percentage that will generate tax proceeds in an amount equal to the difference between the amount of proceeds that would be generated from the 0.25% rate and the amount of funds available for such purpose from another source, subject to debt service requirements on indebtedness incurred by the City for that purpose. The Director of Finance shall establish a procedure for the timely adjustment of the income tax rate pursuant to this section to provide for the efficient and cost effective administration of that tax.

(Ord. 360-2015)