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File #: 202001689    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 9/25/2020 In control: Cincinnati City Council
On agenda: 9/30/2020 Final action: 9/30/2020
ORD/RES# date: 9/30/2020 ORD/RES#: 0330-2020
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, Interim City Manager, on 9/28/2020, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with 2330 VP Apartments, LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 2332 Victory Parkway in the Walnut Hills neighborhood of Cincinnati, in connection with the remodeling of an existing building into approximately 35,173 square feet of residential space, approximately 6,400 square feet of office space, and approximately 1,240 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 $2,100,000.
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment A, 4. 330-2020, 5. 330-2020 T

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, Interim City Manager, on 9/28/2020, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with 2330 VP Apartments, LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 2332 Victory Parkway in the Walnut Hills neighborhood of Cincinnati, in connection with the remodeling of an existing building into approximately 35,173 square feet of residential space, approximately 6,400 square feet of office space, and approximately 1,240 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 $2,100,000.

recommendation

PASS EMERGENCY