202402575

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 12/16/2024, AUTHORIZING the City Manager to execute a Funding and Development Agreement with Grammers Place, LLC or another affiliate of Urban Sites acceptable to the City Manager, to facilitate renovation and construction of a mixed-use development on the real property located at 1422-1450 Walnut Street in the Over-the-Rhine neighborhood of Cincinnati; AUTHORIZING the transfer and appropriation of $2,900,000 from the unappropriated surplus of Downtown/OTR East Equivalent Fund 483 (Downtown/OTR East TIF District) to the Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 to provide resources for the renovation and construction activities of the residential component of the mixed-use development project at 1422-1450 Walnut Street in the Over-the-Rhine neighborhood of Cincinnati; and further DECLARING expenditures from such project account related to the renovation and construction activities associated with the residential component of the mixed-use development project at 1422-1450 Walnut Street in the Over-the-Rhine neighborhood to be a public purpose and constitute a “Housing Renovation” (as defined in Ohio Revised Code Section 5709.40(A)(3)) that is located within the District 4 - Downtown-OTR East District Incentive District, subject to compliance with Ohio Revised Code Sections 5709.40 through 5709.43. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>). (COUNCILMEMBER NOLAN IS EXCUSED FROM THIS ITEM).

Ordinance Passed Emergency Introduced December 16, 2024

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