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Committee files TIF audit and advances multiple ordinances, grants and contracts
Summary
The Cincinnati Budget and Finance Committee filed a TIF policy audit and advanced a package of ordinances, resolutions and grants that include a proposed amendment to a job‑creation tax credit and infrastructure and assessment measures.
The Cincinnati Budget and Finance Committee filed a report auditing current tax‑increment financing (TIF) policies and advanced a slate of ordinances, resolutions, grants and contract amendments at the meeting.
The TIF report summarizes existing TIF policies, three ordinances and a memo outlining community engagement responsibilities. Committee members noted the city’s TIF policy documents dated to February 2007 and said the audit will help clarify policy history and inform updates.
Among the measures advanced or filed:
• Job‑creation tax credit amendment: An ordinance would authorize a second amendment to a 2021 job‑creation tax credit agreement with Core Specialty Insurance Services Inc., 201 East Fifth Street. The proposed amendment would extend the credit term from four to seven years, increase the credit from 35% to 45%, and anticipates 50 new jobs with an annual…
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