Tuesday, March 30, 2010

Cincinnati seeks $3.5M in state funds for Jordan Crossing

Cincinnati City Council has passed an emergency ordinance authorizing the City Manager Milton Dohoney to apply for, accept, and appropriate a $3.5 million Job Ready Sites grant to redevelop a portion of the Jordan Crossing Center in Bond Hill.

A new capital improvement program project account would be created to hold the funds, which would be used for demolition, utility and roadway improvements on nearly 23 acres of the 34-acre site.

The City has pledged $1.85 million from six existing capital accounts to purchase the proposed redevelopment site, which was identified in the 2008 GO Cincinnati strategic economic development report as one of three key opportunity areas in the City for the growth of high-tech jobs.

Established in 2005 by the passage of Ohio Issue 1 and administered by the Ohio Department of Development, the seven-year, $150 million Ohio Job Ready Sites bond program is meant to boost the state's inventory of sites served by utilities and transportation infrastructure, promote reinvestment, and encourage sustainable development.

The deadline for the next Job Ready Sites funding round is April 1.

Built in 1956 by Donald Trump's father Fred Trump, the 550,000-square-foot complex was Cincinnati's first shopping mall. It was known as Swifton Commons until 1999, when the Allen Temple AME Church purchased the center in foreclosure for $1.2 million.

Previous reading on BC:
Allen Temple seeking JRS grant for 'smart office development at Jordan Crossing (7/3/08)