City of Cincinnati - File #: 202101197

• File #: 202101197
• 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#: 0105-2021
• 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 Northcrown 56 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 56 E. McMicken Avenue in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of the existing building into approximately 1,081 square feet of commercial space and approximately 6,829 square feet of residential space, consisting of 13 apartments, at a total remodeling cost of approximately $1,501,184. (COUNCILMEMBER KEATING IS EXCUSED FROM VOTING ON THIS ITEM)
• Sponsors: City Manager

Date	Ver.	Action By	Action	Result
3/31/2021	1	Cincinnati City Council	Passed Emergency	Pass
3/31/2021	1	Cincinnati City Council	Emergency clause to remain	Pass
3/31/2021	1	Cincinnati City Council	Suspension of the three readings	Pass
3/29/2021	1	Budget and Finance Committee	Recommend Passage Emergency
3/24/2021	1	Cincinnati City Council	Referred to Budget & Finance Committee

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 Northcrown 56 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 56 E. McMicken Avenue in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of the existing building into approximately 1,081 square feet of commercial space and approximately 6,829 square feet of residential space, consisting of 13 apartments, at a total remodeling cost of approximately $1,501,184. (COUNCILMEMBER KEATING IS EXCUSED FROM VOTING ON THIS ITEM)

recommendation

PASS EMERGENCY