File #: 202101480    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 4/16/2021 In control: Cincinnati City Council
On agenda: 4/28/2021 Final action: 4/28/2021
ORD/RES# date: 4/28/2021 ORD/RES#: 0142-2021
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 4/21/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 1923 Elm, LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 1923-1927 Elm Street and 205-207 Henry Street in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of an existing building into approximately 13,398 square feet of commercial space, consisting of a 20-room boutique hotel, which remodeling shall be completed in compliance with Leadership in Energy Environmental Design Silver, Gold, or Platinum standards or Living Building Challenge standards, a total construction cost of approximately $4,147,682.
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Exhibit A, 4. 142-2021, 5. 142-2021 T

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 4/21/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 1923 Elm, LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 1923-1927 Elm Street and 205-207 Henry Street in the Over-the-Rhine neighborhood of Cincinnati, in connection with the remodeling of an existing building into approximately 13,398 square feet of commercial space, consisting of a 20-room boutique hotel, which remodeling shall be completed in compliance with Leadership in Energy Environmental Design Silver, Gold, or Platinum standards or Living Building Challenge standards, a total construction cost of approximately $4,147,682.

recommendation

PASS EMERGENCY