Thursday, June 18, 2009

KZF's Downtown relocation seeking LEED tax exemption

Cincinnati City Council is considering an ordinance to execute a Community Reinvestment Area LEED tax exemption agreement to LaCaisse, Inc. for the buildout of KZF Design's new Downtown location.

The company is looking to renovate the three-story building at 700 Broadway into 37,000-square-feet of loft office space and a showcase for sustainable design.

Under the agreement, LaCaisse, Inc. would receive a 12-year, 75 percent exemption on the increased tax value of the property, approximately $808,800 over the life of the contract.

Seventy-five employees would move from the Baldwin Building in Walnut Hills, a 30 percent increase in work space that would help accommodate KZF Design's recent growth.

700 Broadway has been registered with the U.S. Green Building Council as both a LEED Core and Shell and a LEED for Commercial Interiors project, and the goal is to achieve LEED Silver certification.

The renovation, estimated to cost approximately $3.4 million, is scheduled for completion by the end of this year.