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File #: 202200113    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 1/14/2022 In control: Cincinnati City Council
On agenda: 1/26/2022 Final action: 1/26/2022
ORD/RES# date: 1/26/2022 ORD/RES#: 0017-2022
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 1/20/2022 AUTHORIZING the City Manager to execute a Development Agreement with 7 West 7th Property LLC, pertaining to the development and construction of residential rental units on floors 8-21 of the building on property located at 7 W. 7th Street in the Central Business District of Cincinnati, and providing for City assistance to the project in the form of a rebate of a portion of the service payments in lieu of taxes imposed in connection with a proposed 30-year property tax exemption for improvements pursuant to Ohio Revised Code Section 5709.41, subject to the passage by Council of a separate ordinance authorizing such tax exemption.
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment, 4. 17-2022

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, City Manager, on 1/20/2022 AUTHORIZING the City Manager to execute a Development Agreement with 7 West 7th Property LLC, pertaining to the development and construction of residential rental units on floors 8-21 of the building on property located at 7 W. 7th Street in the Central Business District of Cincinnati, and providing for City assistance to the project in the form of a rebate of a portion of the service payments in lieu of taxes imposed in connection with a proposed 30-year property tax exemption for improvements pursuant to Ohio Revised Code Section 5709.41, subject to the passage by Council of a separate ordinance authorizing such tax exemption.

recommendation

PASS EMERGENCY