City of Cincinnati - File #: 202102650

• File #: 202102650
• Version: 1
• Type: Ordinance
• Status: Passed Emergency
• File created: 8/27/2021
• In control: Cincinnati City Council
• On agenda: 9/9/2021
• Final action: 9/9/2021
• ORD/RES# date: 9/9/2021
• ORD/RES#: 0350-2021
• Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 9/1/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Hyde Park Hotel Partners, LLC, thereby authorizing a 13-year tax exemption for 100% of the value of improvements made to real property located at 2654 Madison Road in the Hyde Park neighborhood of Cincinnati, in connection with the construction of a 103-room hotel, which construction shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold, or Platinum standards or Living Building Challenge standards, at a total construction cost of approximately $11,771,503.
• Sponsors: City Manager

Date	Ver.	Action By	Action	Result
9/9/2021	1	Cincinnati City Council	Passed Emergency	Pass
9/9/2021	1	Cincinnati City Council	Emergency clause to remain	Pass
9/9/2021	1	Cincinnati City Council	Suspension of the three readings	Pass
9/7/2021	1	Budget and Finance Committee
9/1/2021	1	Cincinnati City Council	Referred to Budget & Finance Committee

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 9/1/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Hyde Park Hotel Partners, LLC, thereby authorizing a 13-year tax exemption for 100% of the value of improvements made to real property located at 2654 Madison Road in the Hyde Park neighborhood of Cincinnati, in connection with the construction of a 103-room hotel, which construction shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold, or Platinum standards or Living Building Challenge standards, at a total construction cost of approximately $11,771,503.

recommendation

PASS EMERGENCY