City of Cincinnati - File #: 202200613

• File #: 202200613
• Version: 1
• Type: Ordinance
• Status: Passed Emergency
• File created: 3/11/2022
• In control: Cincinnati City Council
• On agenda: 5/4/2022
• Final action: 5/4/2022
• ORD/RES# date: 5/4/2022
• ORD/RES#: 0103-2022
• Title: ORDINANCE (EMERGENCY) submitted by John P. Curp, Interim City Manager, on 4/6/2022, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Fourth and Pike Apartments, LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 516 E. 4th Street in the Central Business District of Cincinnati, in connection with the remodeling of an existing building into approximately 45,000 square feet of residential space, consisting of approximately 29 residential rental units, and approximately 1,700 square feet of commercial space, which remodeling shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold or Platinum standards or Living Building Challenge standards, at a total remodeling cost of approximately $18,000,000.
• Sponsors: City Manager

Date	Ver.	Action By	Action	Result
5/4/2022	1	Cincinnati City Council	Emergency clause to remain	Pass
5/4/2022	1	Cincinnati City Council	Suspension of the three readings	Pass
5/4/2022	1	Cincinnati City Council	Passed Emergency	Pass
5/2/2022	1	Budget and Finance Committee	Recommend Passage Emergency	Pass
4/25/2022	1	Budget and Finance Committee	Held
4/18/2022	1	Budget and Finance Committee
4/13/2022	1	Cincinnati City Council	Referred to Budget & Finance Committee

title

ORDINANCE (EMERGENCY) submitted by John P. Curp, Interim City Manager, on 4/6/2022, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Fourth and Pike Apartments, LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 516 E. 4th Street in the Central Business District of Cincinnati, in connection with the remodeling of an existing building into approximately 45,000 square feet of residential space, consisting of approximately 29 residential rental units, and approximately 1,700 square feet of commercial space, which remodeling shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold or Platinum standards or Living Building Challenge standards, at a total remodeling cost of approximately $18,000,000.

recommendation

PASS EMERGENCY