Tuesday, January 29, 2013

Peter Cremer NA receives LEED tax exemption for Sedamsville plant

Last Thursday, Cincinnati City Council unanimously approved the execution of a Community Reinvestment Area LEED tax exemption agreement with Peter Cremer North America affiliate 3117 Southside Realty, LLC for a new office and warehouse building in Sedamsville.

The Cincinnati-based oleochemical supplier plans to build a $3-plus million, 55,000-square-foot building on 9.93 acres just north of its existing facility, or just south of the intersection of River Road and Fairbanks Avenue on a portion of the former Conrail transfer station site.

The company plans to pursue LEED certification through the U.S. Green Building Council.

The 15-year tax exemption will reduce the development's property tax liability by $124,031.

The company anticipates creating 50 new jobs over the next three years and retaining 123 positions. In October, the Ohio Tax Credit Authority approved a six-year job creation tax credit for the project, saving the company 40 percent on income tax payments from the new jobs created.

Previous reading on BC:
City staff wants design of western riverfront trail to proceed (8/3/12)
City approves rezoning for The Yards (7/17/07)
Riverside/Sedamsville: The Yards (5/15/07)