Cincinnati City Council is considering an ordinance to execute a Community Reinvestment Area tax exemption agreement for the renovation of a three-story, ten-unit apartment building in Columbia Tusculum.
Emerson Place Apartments, LLC plans a $325,500 rehabilitation of the building at that would include new roofing, windows, flooring, and mechanicals.
A burned-out building next door would be demolished to create green space.
If approved by council, the eight-year, 75 percent exemption on the increased property tax value would save the developer nearly $52,000 in tax liability.
The project would be completed by December 2009.
According to City building inspection records, the structure has been vacant for nearly three years.
HAPPY FOURTH OF JULY!
3 hours ago
3 comments:
I think the burned out building is or has been demolished. There was construction equipment on-site last week.
I believe this building is technically in the East End, and not Columbia Tusculum.
Sherman, you may be right. Permits have already been issued, I just haven't followed up.
Anonymous, it's all Columbia Tusculum north of Eastern Avenue, according to the auditor and CAGIS.
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