Tuesday, August 11, 2009

Cincinnati approves funds for 7th Street garage expansion

Cincinnati City Council has approved unanimously an ordinance that will allow the City to expand Downtown's 7th Street Garage.

The ordinance creates a new capital improvement program project account for a construction project, scheduled to begin in October, that would add three parking decks to the garage in anticipation of an additional 650 Procter & Gamble support services employees.

The account will be funded with an unappropriated surplus of $110,000 from Parking Facilities Fund 102.

In early 2010, the new employees will be moving Downtown from the company's Governor's Hill facility in Symmes Township, where Procter & Gamble chose not to renew its lease.

The move will increase the number of employees at the company's Downtown campus to nearly 4,750 and will add about $30 million in annual payroll, resulting in nearly $630,000 in annual tax revenue for the City.

Previous reading on BC:
Downtown garage expansion could begin this October (8/3/09)