Share to Facebook Share to Twitter Bookmark and Share
File #: 202301360    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 5/5/2023 In control: Cincinnati City Council
On agenda: 5/24/2023 Final action: 5/24/2023
ORD/RES# date: 5/24/2023 ORD/RES#: 0170-2023
Title: ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 5/10/2023, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Pleasant Cake LLC, thereby authorizing a fifteen-year tax exemption for one hundred percent of the value of improvements made to real property located at 1527-1531 Pleasant Street in the Over-the-Rhine neighborhood of Cincinnati, in connection with the construction of a mixed-use building consisting of approximately 959 square feet of commercial office space and approximately 7,208 square feet of residential space, comprised of approximately five residential rental units, 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 $3,158,393. (Subject to the Temporary Prohibition List)
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Exhibit A, 4. 170-2023 T, 5. 170-2023

title

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 5/10/2023, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Pleasant Cake LLC, thereby authorizing a fifteen-year tax exemption for one hundred percent of the value of improvements made to real property located at 1527-1531 Pleasant Street in the Over-the-Rhine neighborhood of Cincinnati, in connection  with the construction of a mixed-use building consisting of approximately 959 square feet of commercial office space and approximately 7,208 square feet of residential space, comprised of approximately five residential rental units, 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 $3,158,393. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>)

recommendation

PASS EMERGENCY