Wednesday, March 11, 2009

Council ordinance would create Oakley Square account

Cincinnati City Council is considering an ordinance that would create a capital improvement program account for the Oakley Square improvement project.

The new account would be funded with $750,000 in revenues from the Oakley tax increment financing (TIF) district, approved by council in March 2008.

Meant to slow traffic from the more than 15,000 cars that come through Oakley Square every day, improvements will include the expansion of the Geier Esplanade, bump outs, and sidewalk and curb extensions.

The project will also feature new street trees, rain gardens, pervious pavers and sidewalks, bus shelters and signage.

Work is expected to begin later this year.

In addition to TIF money, $600,000 in Cincinnati Neighborhood Business Districts United funds will be used for the project.

Previous reading on BC:
Madison Road, Oakley Square drawings released (12/24/08)
Cincinnati rolls out three 'new' streetscape TIF projects (4/4/08)
Finance Committee discusses changes on streetscape TIFs (12/6/07)