Wednesday, March 27, 2013

City supports tax credits for Emanuel; Startups, squash planned

On Mar. 20, Cincinnati City Council passed a resolution supporting Grandin Properties' application for Ohio Historic Preservation Tax Credits (OHPTC) that will lead to major changes at Over-the-Rhine's Emanuel Community Center.

Emanuel, located at 1308 Race Street, shuttered its daycare and early childhood learning programs in November following years of financial instability and a perceived declining market for its community offerings.

Hyde Park-based Grandin Properties later purchased the center and announced plans for a Business Launching Pad, making available for lease 75 percent of the building's 37,000-square-foot-plus space to entrepreneurial companies aided by small business incubators such as Cintrifuse or The Brandery. The remaining 25 percent will be leased to Emanuel Squash for the education and mentoring of low-income, inner city children.

The total cost of the project has been estimated at $4 million and could be completed within the next year. Work will include the conversion of the basketball gymnasium into three squash courts and the renovation of the childcare center into classrooms.

The deadline for the tenth round of the OHPTC application period is Apr. 2, and a total of $30 million has been made available. Awardees will be announced on or before June 30.

The Emanuel Community Center has served the Over-the-Rhine community for more than 141 years and has been at its current location since 1923. Emanuel Squash will be modeled after the National Urban Squash and Education Association, which operates 12 programs in 11 cities.

Previous reading on BC:
Ohio preservation tax credit application period open (3/13/13)
Tax credits sought for Bartlett Building hotel (3/6/13)
County, 3CDC to explore feasibility of Memorial Hall renovation (3/5/13)
Kirby Road School a local landmark, rehabilitation proceeding (3/5/13)
Charrette kicks off vision study for part of OTR (7/30/12)