File #: 202103152    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 11/23/2021 In control: Cincinnati City Council
On agenda: 12/8/2021 Final action: 12/8/2021
ORD/RES# date: 12/8/2021 ORD/RES#: 0465-2021
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 12/1/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with The Farmers Hotel, LLC, thereby authorizing a 12-year tax exemption for 100% of the value of improvements made to real property located at 4000 and 4004 Colerain Avenue in the Northside neighborhood of Cincinnati, in connection with the remodeling of an existing building into approximately 3,840 square feet of residential space, consisting of 6 residential units, and approximately 2,500 square feet of commercial space, at a total construction cost of approximately $645,000.
Sponsors: City Manager
Attachments: 1. Transmittal - CRA Tax Exdmption for The Farmers Hotel LLC, 2. Ordinance - CRA Tax Exemption for The Farmers Hotel LLC, 3. Attachment, 4. 465-2021 T, 5. 465-2021

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 12/1/2021, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with The Farmers Hotel, LLC, thereby authorizing a 12-year tax exemption for 100% of the value of improvements made to real property located at 4000 and 4004 Colerain Avenue in the Northside neighborhood of Cincinnati, in connection with the remodeling of an existing building into approximately 3,840 square feet of residential space, consisting of 6 residential units, and approximately 2,500 square feet of commercial space, at a total construction cost of approximately $645,000.

recommendation

PASS EMERGENCY