ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 3/24/2025, AUTHORIZING the City Manager to execute a Funding Agreement with OTR Holdings, Inc., an affiliate of 3CDC, providing for a grant from the City to fund the acquisition of real property located at 1506 and 1518 Vine Street in the Over-the-Rhine neighborhood of Cincinnati; AUTHORIZING the transfer and appropriation of the sum of $1,500,000 from the unappropriated surplus of the Downtown/OTR West Equivalent Fund 482 (Downtown/OTR West TIF District) to the Department of Community and Economic Development non-personnel operating budget account no. 482x164x7200 to provide resources for the acquisition of real property located at 1506 and 1518 Vine Street in the Over-the-Rhine neighborhood of Cincinnati; and further DECLARING expenditures from such project account related to the acquisition of real property located at 1506 and 1518 Vine Street in the Over-the-Rhine neighborhood of Cincinnati, to be a public purpose and constitute a “Public Infrastructure Improvement” (as defined by Ohio Revised Code Section 5709.40(A)(8)) the will benefit and/or serve the District 3-Downtown/OTR West District Incentive District, subject to compliance with the Ohio Revised Code Sections 5709.40 through 5709.43.

Ordinance Passed Emergency Introduced March 24, 2025

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