City of Cincinnati Development Votes: October 2014

Rather a quiet month for development in Cincinnati as the new city manager, Harry Black, gets the lay of the land and figures out what is what.  Most interesting observation is that the vast majority of public support went outside the city center where most support has gone in recent years ($3,328,000) to Avondale.($49,000,000)

EMERGENCY:  Community Reinvestment Tax Exemption Agreement with Avondale Housing II LLP for 100% of the value of the improvements for 8 years at 3415, 3417, 3580, 3639 Reading Road, 722 Gholsen Ave., 615 Maple Avenue, and 802 Blair Avenue in connection with the remodeling of existing structures and new construction resulting in 18 new and 98 reconstructed apartment units for a total construction cost of $29,500,000

Property Investment Reimbursement Agreement with Zipscene LLC, up to $100,000 in payments over a 4 year period with such annual payments limited to 45% of new income tax generated by 47 new jobs to be retained for a minimum of 8 years and resulting in no less than $3,750,000 in taxable wages, whereas the employer intends to invest $200,000 in current location

EMERGENCY:  Community Reinvestment Tax Exemption Agreement with Avondale Housing LP for 100% of the value of improvements for 8 years at 816 Hutchins Avenue, 3522,3719, 3723 Reading Road remodeling of existing structures into 81 apartment units with total construction costs of approximately $19,500,000

EMERGENCY:  Community Reinvestment Tax Exemption Agreement with Transept Property LLC, authorizing 10 year tax exemption for property located at 1205 Elm, former church building converting into catering events facility and bar, total construction cost of $3,228,000.

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