Wednesday, May 13, 2009

Burke receives CRA tax exemption for Downtown expansion

An ordinance extending a 12-year, LEED Community Reinvestment Area property tax exemption to Burke, Inc. for its Downtown expansion project has been passed unanimously by Cincinnati City Council.

The market research firm plans a $6 million renovation of the two-story, 78,000-square-foot industrial building at 500 W Seventh Street for its 229 Downtown employees, currently housed in a 52,000-square-foot space at Centennial Two.

bhdp architecture has been retained to design the space to LEED Silver, Gold, or Platinum standards.

Construction on the building, which will also include a 16,000-square-foot third-floor addition, is scheduled for completion in May 2010.

A separate agreement will provide Cincinnati Public Schools with 25 percent of the exempt property tax amount annually.

Previous reading on BC:
Cincinnati considering tax exemption for Burke (5/6/09)