Wednesday, March 18, 2009

City administration seeking other funding for College Hill land bank

With the $1.5 million originally budgeted for College Hill's Linden Park project now going to other projects, Cincinnati is looking into other funding methods to begin land banking in the middle of the neighborhood's business district.

In January, a report to City Council from city manager Milton Dohoney Jr. advised against using the funding for a plan by the College Hill Community Urban Redevelopment Corporation to acquire and demolish buildings, then to hold the land for residential redevelopment until the economy improves.

The City of Cincinnati is already controls 6.4 acres at Hamilton Avenue and North Bend Road, has invested between $2 million and $3 million in developing Linden Park, Dohoney said.

He added that, without a specified plan for the parcels between 5943 and 6033 Hamilton Avenue, using the remaining appropriations for land banking purposes "would set a bad precedent".

Instead, some of this money is being used for projects such as Factory Square in Northside, Madison and Whetsel redevelopment, the Spring Grove Village market study, Clyffside Lofts, and Brewery District infill housing.

Council failed to approve Dohoney's report, leaving in play a November 2008 adopted council motion to channel the $1.5 million from the abandoned project to the land banking plan.

Previous reading on BC:
Dohoney advises against using Linden Park money for land banking (1/14/09)
Linden Park money will aid other College Hill projects (12/2/08)
Neyer backs out of Linden Park (8/29/08)
Linden Park reception to kick off sales center opening (3/6/08)
City to sell land, provide loan for Linden Park (2/1/08)