S.B. No. 241 Summary

• Amends Ohio's New Community Authority Law (Chapter 349) to expand definitions and authorities for new community authorities, particularly those established between July 7, 2010 and January 1, 2012.

• Modifies "new community" definition to allow communities developed in relation to existing communities with flexible facilities rather than requiring full industrial, commercial, residential, cultural, educational, and recreational activities.

• Reduces minimum lease duration requirements from 75 years to 40 years for developers controlling land in new community districts established during the specified timeframe.

• Expands "community facilities" definition to include off-street parking facilities and other community activities; allows citizen board members to represent both residents and employers of the district.

• Clarifies dissolution procedures to allow property vesting in townships (subject to township board acceptance) and permits alternative methods for selecting or electing successor board members.