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File #: 202001376    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 8/28/2020 In control: Cincinnati City Council
On agenda: 9/2/2020 Final action: 9/2/2020
ORD/RES# date: 9/2/2020 ORD/RES#: 0283-2020
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, Interim City Manager, on 8/31/2020, AUTHORIZING the City Manager to execute a Public Infrastructure Funding Agreement with OTR Holdings, Inc., an affiliate of Cincinnati Center City Development Corporation (3CDC), pursuant to which the City of Cincinnati will provide funding of up to $4,000,000 for the design and construction of certain public infrastructure improvements along Court Street in the Central Business District of Cincinnati; ESTABLISHING new capital improvement program project account no. 980x164x211628, "Court Street Public Infrastructure - TIF" for the purpose of providing resources for the design and construction of public infrastructure improvements associated with the development along Court Street generally between Vine Street and Walnut Street in the Central Business District of Cincinnati; AUTHORIZING the transfer and appropriation of the sum of $4,000,000 from the unappropriated surplus of Downtown/OTR East E...
Sponsors: City Manager
Attachments: 1. Exhibit A, 2. TRANSMITTAL, 3. ORDINANCE, 4. 283-2020, 5. 283-2020 T

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ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, Interim City Manager, on 8/31/2020, AUTHORIZING the City Manager to execute a Public Infrastructure Funding Agreement with OTR Holdings, Inc., an affiliate of Cincinnati Center City Development Corporation (3CDC), pursuant to which the City of Cincinnati will provide funding of up to $4,000,000 for the design and construction of certain public infrastructure improvements along Court Street in the Central Business District of Cincinnati; ESTABLISHING new capital improvement program project account no. 980x164x211628, “Court Street Public Infrastructure - TIF” for the purpose of providing resources for the design and construction of public infrastructure improvements associated with the development along Court Street generally between Vine Street and Walnut Street in the Central Business District of Cincinnati; AUTHORIZING the transfer and appropriation of the sum of $4,000,000 from the unappropriated surplus of Downtown/OTR East Equivalent Fund 483 (Downtown/OTR East TIF District) to newly-established capital improvement program project account no. 980x164x211628, “Court Street Public Infrastructure - TIF,” for the purpose of providing resources for the design and construction of the certain public infrastructure improvements along Court Street, including an upgraded streetscape, a new public plaza area, and other public infrastructure improvements associated with the development; and further DECLARING expenditures from such project account to serve a public purpose.

recommendation

PASS EMERGENCY