ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 9/5/2024, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement (LEED or Living Building Challenge) with Supreme Bright Cincinnati, LLC, thereby authorizing a fifteen-year tax exemption for 100 percent of the value of improvements made to real property located at 105 E. 4th Street in the Central Business District of Cincinnati, in connection with the remodeling of an existing building into (i) approximately 490,789 square feet of commercial space, consisting of an approximately 280-room hotel with meeting and ballroom space, and a restaurant/bar; and (ii) approximately 27,936 square feet of residential space, consisting of approximately sixteen residential rental units, which remodeling shall be completed in compliance with Leadership in Energy and Environmental Design Silver, Gold, or Platinum standard or Living Building Challenge standards, at a total construction cost of approximately $102,000,000. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>).
What this record is
- Amount
- $102.0M
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
- Field
- Construction
construction contracts in OH that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Cincinnati City Council
- Requested by
- Budget and Finance Committee
- Introduced
- August 28, 2024
- On agenda
- September 11, 2024
- Passed
- September 11, 2024
- Enacted
- September 11, 2024
- Enactment no.
- 0291-2024
Where it was heard
Cincinnati City Council Cincinnati City Council Cincinnati City Council Budget, Finance & Governance Committee Cincinnati City CouncilWatch what Cincinnati buys
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