City of Cincinnati - File #: 202201409

• File #: 202201409
• Version: 1
• Type: Ordinance
• Status: Passed Emergency
• File created: 6/10/2022
• In control: Cincinnati City Council
• On agenda: 6/29/2022
• Final action: 6/29/2022
• ORD/RES# date: 6/29/2022
• ORD/RES#: 0222-2022
• Title: ORDINANCE (EMERGENCY) submitted by John P. Curp, Interim City Manager, on 6/15/2022, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with OTR Holdings, Inc., or affiliate acceptable to the City, thereby authorizing a 12-year tax exemption for 100% of the value of improvements made to real property located at 1701-1705 Race Street and 1338 and 1401 Main Street in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of five vacant buildings into a mixed-use development containing approximately 6,583 square feet of ground floor commercial retail space and approximately 24,271 square feet of residential space consisting of approximately 38 residential rental units, at a total construction cost of approximately $8,595,106. (Subject to the Temporary Prohibition List)
• Sponsors: City Manager

Date	Ver.	Action By	Action	Result
6/29/2022	1	Cincinnati City Council	Emergency clause to remain	Pass
6/29/2022	1	Cincinnati City Council	Suspension of the three readings	Pass
6/29/2022	1	Cincinnati City Council	Passed Emergency	Pass
6/27/2022	1	Budget and Finance Committee	Recommend Passage Emergency
6/21/2022	1	Budget and Finance Committee	Held
6/15/2022	1	Cincinnati City Council	Referred to Budget & Finance Committee

title

ORDINANCE (EMERGENCY) submitted by John P. Curp, Interim City Manager, on 6/15/2022, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with OTR Holdings, Inc., or affiliate acceptable to the City, thereby authorizing a 12-year tax exemption for 100% of the value of improvements made to real property located at 1701-1705 Race Street and 1338 and 1401 Main Street in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of five vacant buildings into a mixed-use development containing approximately 6,583 square feet of ground floor commercial retail space and approximately 24,271 square feet of residential space consisting of approximately 38 residential rental units, at a total construction cost of approximately $8,595,106. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>)

recommendation

PASS EMERGENCY