Thursday, May 28, 2009

TIF funding approved for Glenway redevelopment

A capital improvement program project account in the amount of $750,000 for the redevelopment of Glenway Avenue has been passed unanimously by Cincinnati City Council.

Funding for the account comes from tax increment financing (TIF) funds from a district approved by council in March 2008.

Cincinnati's Department of Community Development is currently working with Price Hill Will on a Glenway Avenue Market Study and Development Plan to identify underutilized properties between approximately Gurley Road and Shirley Place.

Ken Smith, executive director of Price Hill Will, says that they're looking at mixed-use development for the area.

"Hopefully, this will be a catalyst for additional development along the business corridor in West Price Hill," he says.

Price Hill Will will be seeking input on the plan, and a public meeting likely will be scheduled within the next month, Smith says.

Previous reading on BC:
TIF money could lead to Glenway redevelopment (5/18/09)
Cincinnati rolls out three 'new' streetscape TIF projects (4/4/08)
Finance Committee discusses changes on streetscape TIFs (12/6/07)
City taking action on streetscape TIFs (11/1/07)
Council authorizes bonds for Evanston, Walnut Hills streetscapes (9/24/07)