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File #:
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202400398
Version:
1
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Type:
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Ordinance
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Status:
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Passed Emergency
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On agenda:
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2/7/2024
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Final action:
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2/7/2024
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ORD/RES# date:
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2/7/2024
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ORD/RES#:
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0049-2024
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Title:
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ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 1/31/2024, AUTHORIZING the City Manager to execute a Development Agreement with 3CDC Development Manager LLC and the Board of County Commissioners of Hamilton County, Ohio, acting for and on behalf of Hamilton County, Ohio, pertaining to the major renovation and expansion of the City-owned property known as Duke Energy Convention Center (the "DECC"), and other adjacent properties, all in the Central Business District; ESTABLISHING new capital improvement program project account no. 980x164x241620, "Convention Center District Urban Renewal TIF," to provide resources for improvements to the DECC and other adjacent properties; AUTHORIZING the transfer and appropriation of $23,000,000 from the unappropriated surplus of Urban Renewal - Tax Increment Bond Fund 852 to newly established capital improvement program project account no. 980x164x241620, "Convention Center District Urban Renewal TIF," to provide resources for th...
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title
ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 1/31/2024, AUTHORIZING the City Manager to execute a Development Agreement with 3CDC Development Manager LLC and the Board of County Commissioners of Hamilton County, Ohio, acting for and on behalf of Hamilton County, Ohio, pertaining to the major renovation and expansion of the City-owned property known as Duke Energy Convention Center (the “DECC”), and other adjacent properties, all in the Central Business District; ESTABLISHING new capital improvement program project account no. 980x164x241620, “Convention Center District Urban Renewal TIF,” to provide resources for improvements to the DECC and other adjacent properties; AUTHORIZING the transfer and appropriation of $23,000,000 from the unappropriated surplus of Urban Renewal - Tax Increment Bond Fund 852 to newly established capital improvement program project account no. 980x164x241620, “Convention Center District Urban Renewal TIF,” to provide resources for the improvements to the DECC and other adjacent properties as required by the Development Agreement between the City of Cincinnati, 3CDC Development Manager LLC, and the Board of County Commissioners of Hamilton County, Ohio, acting for and on behalf of Hamilton County, Ohio; and DECLARING this capital improvement project an urban renewal project located in an urban renewal area, each as defined in Ohio Revised Code Chapter 725.
recommendation
PASS EMERGENCY
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