File #: 202400221    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 1/12/2024 In control: Cincinnati City Council
On agenda: 1/31/2024 Final action: 1/31/2024
ORD/RES# date: 1/31/2024 ORD/RES#: 0027-2024
Title: ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 1/18/2024, APPROVING, AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with The Beta Nu of Beta Theta Pi Building Company and the State of Ohio, for the use of the University of Cincinnati, thereby authorizing an eight-year tax exemption for 100 percent of the value of improvements made to real property located at 2630 University Court in the CUF neighborhood of Cincinnati, in connection with the remodeling of an existing building into nine residential units as well as meeting, academic, and social space consisting of approximately 12,690 square feet in aggregate, at a total remodeling cots of approximately $5,084,640.
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment, 4. 27-2024, 5. 27-2024 T

title

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 1/18/2024, APPROVING, AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with The Beta Nu of Beta Theta Pi Building Company and the State of Ohio, for the use of the University of Cincinnati, thereby authorizing an eight-year tax exemption for 100 percent of the value of improvements made to real property located at 2630 University Court in the CUF neighborhood of Cincinnati, in connection with the remodeling of an existing building into nine residential units as well as meeting, academic, and social space consisting of approximately 12,690 square feet in aggregate, at a total remodeling cots of approximately $5,084,640.

recommendation

PASS EMERGENCY