City of Cincinnati - File #: 202101312

• File #: 202101312
• Version: 1
• Type: Motion
• Status: Filed
• File created: 4/6/2021
• In control: Budget and Finance Committee
• On agenda: 4/12/2021
• Final action: 5/17/2021
• Title: MOTION, submitted by Councilmember Kearney, WE MOVE for the City Council to deposit $50 million from the American Rescue Plan Act funds into the City of Cincinnati's Affordable Housing Trust Fund that was established in 2018 from the sale of the Norfolk Railroad. WE FURTHER MOVE for each neighborhood community council annually to consider and recommend the transfer to the City's Affordable Housing Trust Fund, a portion of the 25 percent of the neighborhood's Tax Increment Financing (TIF) dollars reserved for affordable housing. WE FURTHER MOVE for each neighborhood community council annually to consider and recommend the transfer to the City's Affordable Housing Trust Fund a portion of the neighborhood's Voluntary Tax Incentive Contribution Agreement (VTICA) funds reserved for affordable housing. (STATEMENT ATTACHED)
• Sponsors: Jan-Michele Kearney

Date	Ver.	Action By	Action	Result
5/17/2021	1	Budget and Finance Committee	Filed
5/11/2021	1	Budget and Finance Committee	Held
5/3/2021	1	Budget and Finance Committee	Held
4/26/2021	1	Budget and Finance Committee	Held
4/19/2021	1	Budget and Finance Committee	Held
4/12/2021	1	Budget and Finance Committee	Held
4/7/2021	1	Cincinnati City Council	Referred to Budget & Finance Committee

title

MOTION, submitted by Councilmember Kearney, WE MOVE for the City Council to deposit $50 million from the American Rescue Plan Act funds into the City of Cincinnati’s Affordable Housing Trust Fund that was established in 2018 from the sale of the Norfolk Railroad. WE FURTHER MOVE for each neighborhood community council annually to consider and recommend the transfer to the City’s Affordable Housing Trust Fund, a portion of the 25 percent of the neighborhood’s Tax Increment Financing (TIF) dollars reserved for affordable housing. WE FURTHER MOVE for each neighborhood community council annually to consider and recommend the transfer to the City’s Affordable Housing Trust Fund a portion of the neighborhood’s Voluntary Tax Incentive Contribution Agreement (VTICA) funds reserved for affordable housing. (STATEMENT ATTACHED)

recommendation

BUDGET AND FINANCE COMMITTEE