Tuesday, February 26, 2013

City to sell three land-banked OTR properties

Cincinnati City Council agreed at its Feb. 20 meeting to the sale of three vacant, City-owned Over-the-Rhine properties through its Cincinnati Land Reutilization Program (CLRP).

The City will sell two three-story buildings at 1532-1534 Republic Street to Cincinnati Center City Development Corp. affiliate OTR Holdings, Inc. for $1 for the development of market-rate rental housing.

A three-story building at 24 Findlay Street will be sold for $5,000 to Jeff Gramke for rehabilitation into a two-family dwelling, one unit of which will be his personal residence and the other a rental property.

Finally, the property at 1717 Elm Street will be sold to John Back for $11,500. Back plans to rehabilitate the properties into a single-family home, which he will occupy with his wife Mercedeh Namei.

CLRP, established by City Council in 1996 to return abandoned property to tax-generating use, is managed by the Department of City Planning and Buildings.

Previous reading on BC:
Planning Commission Friday: Kirby Road School, Wasson Way, land sales (1/17/13)
Land-banked Mohawk parcels could be sold for $1 (2/22/11)
Northside CURC to buy vacant City parcel (4/1/09)
Land bank to sell Mount Auburn lot for new SFD (2/9/09)