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Council advances multiple development, TIF and parks items; Reed Flats and Northside TIF among projects moved toward passage
Summary
Council's Budget & Finance Committee placed a set of development and grant ordinances on for passage, including property-sale and CRA/TIF agreements that enable several Over-the-Rhine rehabs (about 90 units with 62 affordable units) and $420,000 in Northside TIF assistance to acquire vacant commercial properties for redevelopment.
The Budget & Finance Committee on Dec. 8 moved a slate of development, community reinvestment (CRA/TIF), grant and donation ordinances toward passage after brief descriptions from administration staff.
Key items advanced:
- Item 30: Property sale and development agreement with Lockhart LLC (an Urban Sites affiliate) to vacate and sell small portions of alley and street parcels in Over-the-Rhine; fair-market value cited as $12,500 to enable parcel consolidation for development.
- Item 31: A first amendment to a CRA tax-exemption agreement with Soli Interest LLC (Urban Sites affiliate) that authorizes a 10-year extension and includes affordability commitments: two residential units at 60% AMI and two at 80% AMI.
- Item 32: First amendment to an existing CRA exemption with BAM Realty Group LLC/4th Street LLC granting a five-year extension at 75% value of improvements in the Central Business District to accommodate an office tenant projected to retain 27 jobs.
- Item 33: CRA exemption agreement with Reed Flats LLC (an affiliate of the Bridal Group) for a 15-year, 100% exemption on improvements at multiple Over-the-Rhine addresses (1711 Elm St., 1713 Elm St., 212 W. Liberty, 214 W. Liberty, 211 W. 4th, 1524-1526 Republic, 1519 Vine). The project would remodel roughly 56,000 square feet into about 90 residential units, of which 62 would be affordable at 60— to 80— AMI, with some small commercial retail.
- Item 34: Use of up to $420,000 from the Northside equivalent fund ($400,000 to Cincinnati Northside Community Urban Redevelopment Corporation for acquisition of 3940 Old Ludlow and 4000 Spring Grove Ave.; $20,000 for DCED project-delivery costs).
Council members repeatedly praised the mixed-income housing components and rapid acquisition strategy for Northside; several members called the projects positive steps to repurpose vacant buildings and expand housing supply in the city.
Other ordinances moved for passage included multiple Parks Foundation grants (including a $2M award for Howes Nest Park improvements), an $800k donation for Eden Park pedestrian access improvements, and a Water Works transfer of $85M to its capital-improvement fund and $8.5M for private lead-service-line replacement.
What's next: The committee put the listed items on for passage to the full council. Several members requested follow-up details on project capital stacks and implementation timelines before final council action.
Sources: Committee descriptions and council-member remarks during the Dec. 8 hearing.
Ending: Committee placed the items on the council docket and deferred some items (item 38) for later consideration.
