File #: 202501195    Version: 1
Type: Ordinance Status: Pass
File created: 6/6/2025 In control: Cincinnati City Council
On agenda: 6/18/2025 Final action:
ORD/RES# date: ORD/RES#:
Title: ORDINANCE submitted by Sheryl M. M. Long, City Manager, on 6/11/2025, AUTHORIZING the transfer and appropriation of $700,000 from the unappropriated surplus of Downtown/OTR East Equivalent Fund 483 (Downtown/OTR East TIF District) to Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 to provide resources in the form of a loan to Grammers Place, LLC, or another affiliate of Urban Sites acceptable to the City Manager, to fund the renovation and construction of the residential component of the mixed-use development project located at 1422-1450 Walnut Street in the Over-the-Rhine neighborhood of Cincinnati ("The Lockhart"), as allowed by Ohio law; and DECLARING that expenditures from Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 related to the renovation and construction activities associated with the residential component of The Lockhart are for a public purpose and constitute ...
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance

title

ORDINANCE submitted by Sheryl M. M. Long, City Manager, on 6/11/2025, AUTHORIZING the transfer and appropriation of $700,000 from the unappropriated surplus of Downtown/OTR East Equivalent Fund 483 (Downtown/OTR East TIF District) to Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 to provide resources in the form of a loan to Grammers Place, LLC, or another affiliate of Urban Sites acceptable to the City Manager, to fund the renovation and construction of the residential component of the mixed-use development project located at 1422-1450 Walnut Street in the Over-the-Rhine neighborhood of Cincinnati (“The Lockhart”), as allowed by Ohio law; and DECLARING that expenditures from Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 related to the renovation and construction activities associated with the residential component of The Lockhart are for a public purpose and constitute a “Housing Renovation” (as defined in Ohio Revised Code (“R.C.”) Section 5709.40(A)(3)) that is located within the District 4-Downtown/OTR East District Incentive District, subject to compliance with R.C. Sections 5709.40 through 5709.43. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>).

recommendation

PASS EMERGENCY