ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 5/7/2025, AUTHORIZING the City Manager to execute a Development Agreement with 441 Vine Street Owner LLC, an affiliate of Victrix Investments LLC, pertaining to the mixed-use redevelopment of an existing structure located at Units 2 and 3, W. Fifth Street in the Central Business District of Cincinnati, which is property commonly known as the Carew Tower, 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 thirty-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. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>).
What this record is
- Held by
- 441 Vine Street Owner LLC
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
- Field
- Public safety
public safety 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.
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- Committee
- Cincinnati City Council
- Requested by
- Budget and Finance Committee
- Introduced
- May 2, 2025
- On agenda
- May 14, 2025
- Passed
- May 14, 2025
- Enacted
- May 14, 2025
- Enactment no.
- 0125-2025
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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