File #: 202501194    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 $2,227,016 from the unappropriated surplus of Downtown/OTR West Equivalent Fund 482 (Downtown/OTR West TIF District) to the Department of Community and Economic Development non-personnel operating budget account no. 482x162x7200 to provide resources to Reid Flats, LLC, an affiliate of The Model Group, to support the rehabilitation of nine rental units affordable to households whose income does not exceed sixty percent of the Area Median Income (AMI) (the "Project"), as part of a larger renovation of residential units in a mixed-use multi-family project known as the Reid Flats project; AUTHORIZING the transfer and appropriation of $40,000 from the unappropriated surplus of Downtown/OTR West Equivalent Fund 482 to the Department of Community and Economic Development personnel operating budget account no. 482x162x7100 for project management costs associated with the Project;...
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 $2,227,016 from the unappropriated surplus of Downtown/OTR West Equivalent Fund 482 (Downtown/OTR West TIF District) to the Department of Community and Economic Development non-personnel operating budget account no. 482x162x7200 to provide resources to Reid Flats, LLC, an affiliate of The Model Group, to support the rehabilitation of nine rental units affordable to households whose income does not exceed sixty percent of the Area Median Income (AMI) (the “Project”), as part of a larger renovation of residential units in a mixed-use multi-family project known as the Reid Flats project; AUTHORIZING the transfer and appropriation of $40,000 from the unappropriated surplus of Downtown/OTR West Equivalent Fund 482 to the Department of Community and Economic Development personnel operating budget account no. 482x162x7100 for project management costs associated with the Project; and DECLARING that expenditures from the Department of Community and Economic Development Downtown/OTR West Equivalent Fund non-personnel operating budget account no. 482x162x7200 and Department of Community and Economic Development Downtown/OTR West Equivalent Fund personnel operating budget account no. 482x162x7100 to support the Project are for a public purpose and constitute a “Housing Renovation” (as defined in Revised Code (“R.C.”) Section 5709.40(A)(3)) that are within the District 3-Downtown/OTR West District Incentive District, subject to compliance with R.C. Sections 5709.40 through 5709.43. <https://www.cincinnati-oh.gov/law/ethics/city-business>>).

recommendation

PASS