ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 8/4/2026, APPROVING AND AUTHORIZING the City Manager to execute a Community Reinvestment Area Tax Exemption Agreement with 530 Walnut LLC, an affiliate of Urban Sites Capital Advisors, LLC, thereby authorizing a fifteen-year tax exemption for 100 percent of the value of improvements made to real property located at 530 Walnut Street in the Central Business District of Cincinnati, in connection with the remodeling of an existing building into approximately 63,117 square feet of residential space consisting of approximately 67 residential rental units, at a total construction cost of approximately $14,436,431; and further AUTHORIZING a ten-year historic extension of such fifteen-year tax exemption. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>). <https://www.cincinnati-oh.gov/law/ethics/city-business%3e).>.

Ordinance Passed Emergency Introduced July 31, 2026

What this record is

Held by: Walnut LLC
Amount: $14.4M
Runs until: July 31, 2036 10 years away calculated from the contract term stated in the record
Type: amendment
Field: Construction

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