File #: 202100677    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 2/16/2021 In control: Cincinnati City Council
On agenda: 2/24/2021 Final action: 2/24/2021
ORD/RES# date: 2/24/2021 ORD/RES#: 0059-2021
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 2/18/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 119 E. McMicken LLC, an affiliate of Northcrown Property LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 119 E. McMicken Avenue in the Over-The-Rhine neighborhood of Cincinnati, in connection with the remodeling of the existing building into approximately 2,218 square feet of commercial retail space, and approximately 5,120 square feet of residential space consisting of 8 apartments, at a total remodeling cost of approximately $822,500.
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Exhibit A, 4. 59-2021, 5. 59-2021 T

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 2/18/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 119 E. McMicken LLC, an affiliate of Northcrown Property LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 119 E. McMicken Avenue in the Over-The-Rhine neighborhood of Cincinnati, in connection with the remodeling of the existing building into approximately 2,218 square feet of commercial retail space, and approximately 5,120 square feet of residential space consisting of 8 apartments, at a total remodeling cost of approximately $822,500.

recommendation

PASS EMERGENCY