202501195

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 6/11/2025, AUTHORIZING the transfer and appropriation of $700,000 from the unappropriated surplus of Downtown/OTR East Equivalent Fund 483 (Downtown/OTR East TIF District) to Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 to provide resources in the form of a loan to Grammers Place, LLC, or another affiliate of Urban Sites acceptable to the City Manager, to fund the renovation and construction of the residential component of the mixed-use development project located at 1422-1450 Walnut Street in the Over-the-Rhine neighborhood of Cincinnati (“The Lockhart”), as allowed by Ohio law; and DECLARING that expenditures from Department of Community and Economic Development non-personnel operating budget account no. 483x164x7200 related to the renovation and construction activities associated with the residential component of The Lockhart are for a public purpose and constitute a “Housing Renovation” (as defined in Ohio Revised Code (“R.C.”) Section 5709.40(A)(3)) that is located within the District 4-Downtown/OTR East District Incentive District, subject to compliance with R.C. Sections 5709.40 through 5709.43. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>).

Ordinance Passed Introduced June 6, 2025

Where it was heard