File #: 202101630    Version: 1
Type: Motion Status: Filed
File created: 4/30/2021 In control: Budget and Finance Committee
On agenda: 5/3/2021 Final action: 5/17/2021
ORD/RES# date: ORD/RES#:
Title: MOTION, dated April 28, 2021, submitted by Councilmember Jan-Michele Lemon Kearney, WE MOVE for the City Administration to establish a Cincinnati Anti-Displacement Fund, based on Atlanta's model, within an initial investment of $5,000,000 from the American Rescue Plan Act to offset property tax and rent increases for long-term homeowners in neighborhoods experiencing rapid economic growth, development, and investment.; WE FURTHER MOVE for the administration to prepare a report on best practices for determining applicant eligibility, including household income limits, and in the case of property taxes, ability to prove ownership, and how long the property must be owned to be considered a legacy homeowner.; WE FURTHER MOVE for the report to include the feasibility of creating a Voluntary Incentive Contribution Agreement (VTICA) to enable a continuous funding source for the Cincinnati Anti-Displacement Fund.; WE FURTHER MOVE for the report to include recommendations on how the fund would ...
Sponsors: Jan-Michele Kearney
Attachments: 1. MOTION

title

MOTION, dated April 28, 2021, submitted by Councilmember Jan-Michele Lemon Kearney, WE MOVE for the City Administration to establish a Cincinnati Anti-Displacement Fund, based on Atlanta’s model, within an initial investment of $5,000,000 from the American Rescue Plan Act to offset property tax and rent increases for long-term homeowners in neighborhoods experiencing rapid economic growth, development, and investment.; WE FURTHER MOVE for the administration to prepare a report on best practices for determining applicant eligibility, including household income limits, and in the case of property taxes, ability to prove ownership, and how long the property must be owned to be considered a legacy homeowner.; WE FURTHER MOVE for the report to include the feasibility of creating a Voluntary Incentive Contribution Agreement (VTICA) to enable a continuous funding source for the Cincinnati Anti-Displacement Fund.; WE FURTHER MOVE for the report to include recommendations on how the fund would best be administered. (STATEMENT ATTACHED)