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Committee advances 30-year tax exemption for Crew Tower conversion to 375 apartments
Summary
The Cincinnati Budget and Finance Committee advanced a development agreement that would convert Crew Tower into 375 market-rate rental units and 10 corporate housing units with a 30-year property tax exemption; members praised the private investment and developer track record.
The Cincinnati Budget and Finance Committee on Monday advanced a development agreement that would convert the downtown Crew Tower into 375 market-rate rental units and 10 units of corporate housing and grant the project a 30-year property tax exemption tied to service payments in lieu of taxes.
The project would also include a small amount of commercial space and a 2% contribution to the city as part of the agreement. Committee members described the…
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