The Greater Cincinnati Redevelopment Authority joined Regional Economic Development Partners REDI Cincinnati and the Cincinnati USA Regional Chamber of Commerce to share the Economic State of the City with the Economic Growth & Zoning Committee of City of Cincinnati City Council.

1. OUR ECONOMIC IMPACT IN
CINCINNATI
Laura N. Brunner, President & CEO
May 1, 2018

3. BOARD CHAIR VICE CHAIR
Charles J.
Luken
Manuel M.
Chavez III
Dr. Pradeep K.
Bekal, MD,
FACG
Sister Sally
Duffy, SC
Robert W.
Fisher
Damon D.
Jones
Mario J.
San Marco
David O.
Smith
Shane M.
Wright
Greater Cincinnati Redevelopment Authority
BOARD OF DIRECTORS
The Greater Cincinnati
Redevelopment Authority is a public
agency that collaborates with dozens
of economic development, community
and corporate partners, and
foundations. It is governed by a
volunteer Board of Directors; half
appointed by the City and half by the
County. Board member appointees
represent a broad mix of business
expertise including development,
design, finance, and marketing. Our
board brings a wealth of expertise and
knowledge, as well as sensitivity to
business needs and market forces in
the region. Patricia Mann
Smitson

4. Public
Finance
Industrial
Revitalization
WHAT WE DO
THREE PRONGED STRATEGY
Neighborhood
Revitalization

5. 5

6. PUBLIC
FINANCE
Development Finance for Economic
Development and Job Creation

8. BOND TYPE AMOUNT USE SOURCE(S)
Lease $200MM
Construction of
Stadium
Equity/Bank Debt
Property Assessed
Clean Energy or "PACE"
$22MM
Construction of
Stadium
Special Assessments on Stadium
Transient Occupancy
Tax or
“TOTS”
$20MM Infrastructure
$1.5MM annual pledge of City portion of TOTS. City will pledge an
extra $250,000 annually if needed due to shortage.
New Community
Authority or "NCA"
$7-11MM Infrastructure
NCA is an Authority established for voluntary tax imposition. 2%
sales tax on tickets and merchandise and admissions tax.
TIF $8MM Infrastructure
$8MM from OTR TIF District No. 4. City to pledge revenue to
Redevelopment Authority.
Parking $20-25MM 1,000 space garage
Revenue from Banks parking facilities. All excess revenue from new
garage will go back to County.

9. INDUSTRIAL
REVITALIZATION
Site Readiness and Workforce will Define the
Future Economic Development Winners

10. Highest and
Best
Use

12. CINCINNATI GARDENS SITE
2250 Seymour Avenue
Redevelopment will result in an estimated
190 Jobs Created
$13 MM Capital
Investment
CITY GRANT FUNDING:
$1,023,981

13. A Public-Sector Industrial
Strategy for Cincinnati

15. 1
Define and agree on a common vision with
clearly defined roles and commitments
across manufacturing ecosystem partners.
2
Shared dedication of “highest and best”
land use that preserves industrial corridors
and creates family-supporting jobs
3
Expand the number of 20+ acre shovel-
ready sites to attract large projects –
200,000 SF and larger single tenant
buildings
4
Bring a variety of manufacturing site sizes
to market
5 Engage land banking / fund public
ownership & stewardship of industrial land
6 Leverage and secure future funding
available at JobsOhio

16. NEIGHBORHOOD
REVITALIZATION
Transforming Communities for Lasting
Impact

17. TARGET NEIGHBORHOOD:
WALNUT HILLS
As one of our targeted neighborhoods, the
Redevelopment Authority has been working in
Walnut Hills since 2013. Our work is based on
collaborative input from the City of Cincinnati,
Walnut Hills Community, and Walnut Hills
Redevelopment Foundation. From
transformative housing development to financing
redevelopment of historic landmarks, we’re
excited to be a part of the forward momentum in
this vibrant neighborhood.

18. A
A – HISTORIC STABILIZATION
965 E. McMillan St. | 2013
Stabilization of circa-1895 structure – a key building in the
Trevarren Flats development which generated 28 jobs.
LANDBANK FUNDING:
$48,750

19. B
B – LAND BANKING TOOLS
900 E. McMillan St. | 2017 | Paramount Square
Landbank acquisition cleared the title and paved the way for
WHRF ownership.
NEGOTIATION
OPTION CONTROL
ASSIGNMENT TO WHRF
CLOSED WITH CITY FUNDING

20. B
B – PUBLIC FINANCING
900 E. McMillan St. | 2017 | Paramount Square
Providing Structured Lease for mixed-use, $19.7 MM
redevelopment project creating 333 construction jobs, 44 FTEs,
and retaining 35 jobs.

21. A+B
A+B – DREAM LOAN FUND
McMillan Business District | 2017 | Paramount Square + Trevarren Flats
Financed a portion of the tenant fitout in the Trevarren Flats ad
Paramount Square developments.
KRESGE FOUNDATION LOANS:
$1,035,000

22. C
C – REACH WALNUT HILLS
Market-Rate Housing | 2016
To date:
• Six new homes built and three homes renovated
• One home currently being renovated
LANDBANK SUBSIDY:
$597,899

23. D
D – PUBLIC FINANCING
937 Windsor St. | 2016 | Windsor Flats
The Redevelopment Authority worked within a partnership to
create cost savings for the developer, Core Redevelopment,
allowing the redevelopment of this historic property, part of
Walnut Hills’ cultural legacy. $10.6 MM project converted
historic school into 41 market-rate apartments, and new-
construction is underway on 50-unit building and parking facility.

24. E
E – HURC PROGRAM
2304 St. James Street
Renovation is underway on this single-family home. Vacant since
2013, this home was acquired as a donation from Deutsche
Bank and rehab costs are estimated to be $125,000.

25. F
F - HOLDING AGREEMENT
Curtis Street / St. James Ave. | Landbank Tools
The Hamilton County Landbank acquired this property and held
it for the end user.
The City of Cincinnati funded and managed the demolition of
vacant structures on the property.

26. G
G – HISTORIC STABILIZATION
722 E. McMillan St. | 2017
The Landbank, in partnership with the City of Cincinnati,
stabilized this historic property in the McMillan Business District.
LANDBANK FUNDING:
$65,000
CITY OF CINCINNATI FUNDING:
$228,321

27. H
G – COMMERCIAL PROPERTY
3001 Walter Ave.
This commercial structure was acquired by the Landbank
through the forfeited land list. Public ownership of this and other
structures affords the ability to identify the right end user in
alignment with the community plan.

28. I – NIP / LANDBANK TOOLS
759 Morgan Street | 2018 | Neighborhood Initiative Program
The Landbank demolished this vacant and blighted structure
utilizing NIP funding. This demolition is enabling the rehab of an
adjacent single-family home through REACH Walnut Hills.
I
OVERALL NIP FUNDING UTILIZED IN WALNUT HILLS:
$793,999

29. J – NIP / LANDBANK TOOLS
19 Lincoln Terrace | 2014
The Landbank acquired this condemned, tax-delinquent
property, worked with Talbert Services to relocate remaining
tenants, and demolished the structures utilizing NIP funding.
J
LANDBANK FUNDING FOR RELOCATION SERVICES:
$75,000 Approx.

31. Brooking Institution and PolicyLink (Kennedy and Leonard 2001b)
FACTORS TO BE
PREDICTIVE OF GENTRIFICATION
1. High rate of renters
2. Ease of access to job centers
3. High and increasing levels of metropolitan
congestion
4. High architectural value
5. Comparatively low housing values
6. High job growth
7. Constrained housing supply
8. Large rent gap
9. Urban amenities
10.Targeted public-sector policies (e.g., tax
incentives, public housing revitalization,
construction of transit facilities, disposition of
city owned properties, code enforcement, etc.)
11.Growing preference for urban amenities

32. OUR GOAL
to be inclusive of race, income,
and age in neighborhood housing
and business development.