File #: 202202126    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 11/28/2022 In control: Cincinnati City Council
On agenda: 12/14/2022 Final action: 12/14/2022
ORD/RES# date: 12/14/2022 ORD/RES#: 0376-2022
Title: ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 11/30/2022, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Paramount Launch, LLC, an affiliate of The Model Group, Inc., thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 954 E. McMillan Street in the Walnut Hills neighborhood of Cincinnati, in connection with the construction of approximately 29,988 square feet of residential space, consisting of 56 dwelling units, and approximately 6,790 square feet of commercial space, which construction shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold or Platinum standards or Living Building Challenge standards, at a total construction cost of approximately $11,602,886. (Subject to the Temporary Prohibition List)
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment, 4. 376-2022 T, 5. 376-2022

title

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 11/30/2022, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Paramount Launch, LLC, an affiliate of The Model Group, Inc., thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 954 E. McMillan Street in the Walnut Hills neighborhood of Cincinnati, in connection with the construction of approximately 29,988 square feet of residential space, consisting of 56 dwelling units, and approximately 6,790 square feet of commercial space, which construction shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold or Platinum standards or Living Building Challenge standards, at a total construction cost of approximately $11,602,886. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>)

recommendation

PASS EMERGENCY