Wednesday, September 3, 2008

Street sale would aid National City expansion, add more than 75 jobs

The sale of portions of two Queensgate streets would allow National City Bank to develop a new data processing center and could result in the creation of 75 to 125 new jobs.

Cincinnati City Council is considering an ordinance that would 0.4 acres of McLean Avenue and Richmond Street, which adjoins National City's current facility, for $17,500, the property's appraised fair market value.

National City estimates costs for the new facility of between $45 million and $55 million.

Because CSX Transportation owns adjacent property and has not consented to the sale, notice of the petition to purchase will be published in the City Bulletin for six weeks before council takes action.