The Village of Fairport Harbor has a number of incentives available to residents and companies to locate and invest in our lakeside community.

The Invest Fairport program is our branded Community Reinvestment Area (CRA) initiative, designed to reduce the property tax burden for those improving or building in the Village. Whether you're constructing a new home, renovating a storefront, or expanding a commercial facility — we’re here to help make your beach town dream a reality.

Residential Tax Abatement Program
Property owners may qualify for up to 15 years of tax abatement on the increased value of residential improvements — including renovations, additions, or new construction.

• Up to 100% tax exemption on increased property value
• Applies to remodeling, additions, or new home construction
• Minimum investment of $2,500 required ($5,000 for residential property with more than two units)

Fairport Harbor is a community of small businesses, merchants, and manufacturers. We are very happy that you have chosen Fairport Harbor to start, grow, and expand your business. The Commercial Tax Abatement Program is different from the residential program listed above, and has a few more steps.

• Prior to construction, business applicants will meet with the Administrator to discuss the project and its impact.
• The Village and business will negotiate a written agreement for the tax abatement.
• If the tax abatement exceeds 75% of the improvement value, it requires the approval from the Fairport Harbor Board of Education. For all agreements under 75%, the Village only has to notify the Board of Education.
• The final agreement must be approved by Council as a resolution.

For more information on Invest Fairport, or the Residential and Commercial Tax Abatement programs, please contact Village Administrator Lukas Darling, by phone at (440) 352-3620 or by email at LDarling@FairportHarbor.org.

The Lake Development Authority (LDA) is dedicated to promoting economic growth by supporting capital investments from public, private, and nonprofit entities. As a Port Authority, LDA offers financing options such as SBA 504 loans, Ohio 166 loans, capital lease financing, and tax-exempt financing to help businesses expand and thrive.

In addition to financial tools, LDA facilitates projects that include infrastructure improvements, land acquisition, new construction, and renovation of existing buildings. By leveraging these resources, the Lake Development Authority plays a vital role in strengthening the local economy and fostering long-term development. Learn more at ldauthority.org.

The Ohio Property Assessed Clean Energy (PACE) program is an innovative financing tool that helps commercial property owners make energy efficiency, renewable energy, and water conservation improvements. Through PACE, the cost of upgrades—such as HVAC systems, insulation, lighting, or solar panels—can be financed and repaid over time via a special assessment on the property tax bill. This approach offers long-term, fixed-rate financing with no upfront costs, and the obligation stays with the property rather than the owner, making it an attractive option for businesses looking to reduce energy costs and increase sustainability. Learn more at ohpace.org or call Ohio PACE at  614-227-4888 to get started.

The Small Business Development Center (SBDC) at Lakeland Community College offers valuable resources to help entrepreneurs and small business owners succeed. Services include free one-on-one business counseling, start-up training webinars, and access to tools that support business planning, financing, and growth strategies. Whether you’re launching a new venture or expanding an existing business, the SBDC provides expert guidance and practical solutions to help you achieve your goals. Learn more at https://www.lakelandcc.edu/sbdc.