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File #: 202102266    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 6/11/2021 In control: Cincinnati City Council
On agenda: 6/23/2021 Final action: 6/23/2021
ORD/RES# date: 6/23/2021 ORD/RES#: 0275-2021
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 6/16/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with Textile Partners LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 205 W. Fourth Street in the Central Business District neighborhood of Cincinnati, in connection with the remodeling of an existing building to create approximately 7,000 square feet of commercial retail space and approximately 215,595 square feet of residential space consisting of 282 residential units, at a total construction cost of approximately $55,347,000; and further AUTHORIZING a 10-year historic extension of such 15-year tax exemption.
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Exhibit A, 4. 275-2021 T, 5. 275-2021

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 6/16/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with Textile Partners LLC, thereby authorizing a 15-year tax exemption for 100% of the value of improvements made to real property located at 205 W. Fourth Street in the Central Business District neighborhood of Cincinnati, in connection with the remodeling of an existing building to create approximately 7,000 square feet of commercial retail space and approximately 215,595 square feet of residential space consisting of 282 residential units, at a total construction cost of approximately $55,347,000; and further AUTHORIZING a 10-year historic extension of such 15-year tax exemption.

recommendation

PASS EMERGENCY