What are the benefits of a CIC?

Some of the benefits of having a CIC include the fact that the CIC can buy and sell real estate without the entanglements associated with municipal ownership of real estate. Additionally, the work through CIC can be accomplished without the requirement of competitive bidding. There is much greater flexibility in real estate development through a CIC as opposed to City controlled development.

Land Development & Land Sales

The CIC could own the land and allow someone to build upon it and lease the property to the developer. The CIC could develop the land itself and be a landlord for tenants on the property. Or the CIC could simply sell the land to a developer subjecting the development to certain pre-development criteria. All of these are options that the CIC could undertake with direction from the City.

Improved Flexibility

The greatest benefit of having a CIC is its ability to be more flexible and move more quickly in terms of purchasing, selling, or developing land.

Show All Answers

1. What does the CIC plan to do with the funding?
2. What is a CIC able to do?
3. How is the CIC established?
4. How is Munroe Falls’s CIC configured?
5. Is the CIC accountable?
6. Why is the CIC being activated now?
7. Will the CIC use it’s funding for other purposes?
8. What are the benefits of a CIC?
9. Are there limitations?