File #: 202101194    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 3/19/2021 In control: Cincinnati City Council
On agenda: 3/31/2021 Final action: 3/31/2021
ORD/RES# date: 3/31/2021 ORD/RES#: 0104-2021
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 3/24/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 116 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 116 E. McMicken Avenue in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of the existing building into approximately 549 square feet of commercial space and approximately 5,183 square feet of residential space, consisting of 10 residential rental units, at a total construction cost of approximately $869,325. (COUNCILMEMBER KEATING IS EXCUSED FROM VOTING ON THIS ITEM)
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment, 4. 104-2021 T, 5. 104-2021

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 3/24/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 116 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 116 E. McMicken Avenue in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of the existing building into approximately 549 square feet of commercial space and approximately 5,183 square feet of residential space, consisting of 10 residential rental units, at a total construction cost of approximately $869,325. (COUNCILMEMBER KEATING IS EXCUSED FROM VOTING ON THIS ITEM)

recommendation

PASS EMERGENCY