Monday, May 17, 2010

Cincinnati applies for funding for Medpace roadwork

Cincinnati City Council has approved unanimously an ordinance allowing City Manager Milton Dohoney to apply for, accept and appropriate an approximately $300,000 grant from the Ohio Department of Development (ODOD) for roadwork and infrastructure improvements at the former NuTone site, 4820 Red Bank Road in Madisonville.

The City already has submitted its grant application. The grant, from ODOD's Roadwork Development Account 629, is funded by the state gasoline tax and can only be used for road and highway improvements that help create or retain jobs.

Total costs for the work are about $1.14 million. Developer RBM Development Company, LLC is providing the remainder as a private match.

A $15 million, 132,000-square-foot headquarters for Medpace Inc. is currently under construction at the site and is scheduled for completion this October.

The new building will allow the company to move 462 employees from its current headquarters in Norwood, which will increase to 535 employees by 2013 and a possible additional 800 employees by 2014.

Previous reading on BC:
CRA tax exemption approved for new Medpace HQ (12/2/09)
Tax exemption for Medpace building, jobs considered (11/11/09)
Public meeting to be held on NuTone remediation grant (9/8/09)
Madisonville: NuTone redevelopment (5/29/07)