Herald Building granted CRA exemption

Rendering by DNK Architects

Cincinnati City Council unanimously approved a Community Reinvestment Area (CRA) LEED tax exemption agreement for the future headquarters of the Cincinnati Herald.

The agreement would exempt the building from real property taxes for a period of 15 years in return for the creation of 25 additional jobs by the end of 2011, netting the City an additional $208,000.

The three-story, 46,000-square-foot office building will also house employees from Cincinnati Children's Hospital Medical Center and an undetermined retail tenant.

The $7.78 million building will be constructed to the U.S. Green Building Council's LEED for Core and Shell standards, which covers building materials and mechanicals.

Official LEED certification for the project is pending.

The building is part of a larger redevelopment plan by the Uptown Consortium that also includes a six-story medical office building, a 1,450-space parking garage, up to 56 townhome units and retail space.

Construction on the parking garage began earlier this month.

Previous reading on BC:
GCF grant to fund Gateway Center study (2/14/08)
Council to consider CRA LEED tax exemption for Herald Building (2/12/08)
Burnet Avenue photo update, 12/24/07 (1/2/08)
Burnet Avenue plan to go before Urban Design Review Board (10/4/07)
Enquirer: Burnet Avenue dedication (9/26/07)