City of Cincinnati - File #: 202300857

• File #: 202300857
• Version: 1
• Type: Ordinance
• Status: Passed Emergency
• File created: 3/13/2023
• In control: Cincinnati City Council
• On agenda: 3/15/2023
• Final action: 3/15/2023
• ORD/RES# date: 3/15/2023
• ORD/RES#: 0084-2023
• Title: ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 3/13/2023, AUTHORIZING the City Manager to enter into a Funding Agreement with Whex Garage LLC, a wholly owned subsidiary of Cincinnati Center City Development Corporation (3CDC), and take such other steps as may be necessary in order to facilitate the company's financing to acquire certain real property located at 212 W. Fourth Street in the Central Business District of Cincinnati, upon which is located a 780-space parking garage commonly known as the Whex Garage; AUTHORIZING the transfer and appropriation of $275,000 from the unappropriated surplus of Downtown South/Riverfront Equivalent Fund 481 to the Department of Finance non-personnel operating budget account no. 481x133x7200 for the purpose of providing resources to facilitate Whex Garage LLC's financing to acquire certain real property located 212 W. Fourth Street in the Central Business District of Cincinnati, upon which is located a 780-space parking garag...
• Sponsors: City Manager

Date	Ver.	Action By	Action	Result
3/15/2023	1	Cincinnati City Council	Passed Emergency	Pass
3/15/2023	1	Cincinnati City Council	Emergency clause to remain	Pass
3/15/2023	1	Cincinnati City Council	Suspension of the three readings	Pass
3/13/2023	1	Budget and Finance Committee	Recommend Passage Emergency

title

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 3/13/2023, AUTHORIZING the City Manager to enter into a Funding Agreement with Whex Garage LLC, a wholly owned subsidiary of Cincinnati Center City Development Corporation (3CDC), and take such other steps as may be necessary in order to facilitate the company’s financing to acquire certain real property located at 212 W. Fourth Street in the Central Business District of Cincinnati, upon which is located a 780-space parking garage commonly known as the Whex Garage; AUTHORIZING the transfer and appropriation of $275,000 from the unappropriated surplus of Downtown South/Riverfront Equivalent Fund 481 to the Department of Finance non-personnel operating budget account no. 481x133x7200 for the purpose of providing resources to facilitate Whex Garage LLC’s financing to acquire certain real property located 212 W. Fourth Street in the Central Business District of Cincinnati, upon which is located a 780-space parking garage commonly known as the Whex Garage; and DECLARING that expenditures from the Department of Finance non-personnel operating budget account no. 481x133x7200 are for a public purpose and constitute a “Public Infrastructure Improvement” (as defined in Section 5709.40(A)(8) of the Ohio Revised Code), that will benefit and/or serve the District 2-Downtown South/Riverfront District Incentive District, subject to compliance with Ohio Revised Code Sections 5709.40 through 5709.43. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>)

recommendation

PASS EMERGENCY