Monday, May 18, 2009

TIF money could lead to Glenway redevelopment

Cincinnati City Council's Finance Committee today will consider an ordinance establishing a capital improvement program project account to pay for public infrastructure and predevelopment activities for underutilized areas along Glenway Avenue in West Price Hill.

The account would be funded with $750,000 in tax increment financing (TIF) from the neighborhood's TIF district, which council approved in March 2008.

The City's Department of Community Development is currently working with Price Hill Will on a Glenway Avenue Market Study and Development Plan, which will seek to identify a project area within the TIF district.

Any redevelopment project is likely to contain a mix of housing, retail, and office uses.

Previous reading on BC:
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)
TIFs and streetscapes (9/12/07)