City of Cincinnati staff can help you to access these and other resources and incentives to assist with real estate redevelopment projects:

Brownfield Redevelopment Assistance

Clean Ohio Revitalization Fund (CORF) and Clean Ohio Assistance Fund (COAF)
The SPUR Team works primarily with two grants from the Clean Ohio Fund: the Clean Ohio Revitalization Fund and Clean Ohio Assistance Fund.  The Clean Ohio Fund provides funding for cleaning up brownfields to encourage redevelopment and revitalize communities. These grants will pay for asbestos surveys, Phase II environmental assessments, demolition, and removal of contaminated groundwater and soil. http://clean.ohio.gov/BrownfieldRevitalization/Default.htm

NEW: USEPA Brownfield Assessment Coalition Grant
In coalition with the City of Cincinnati and Hamilton County, the Port of Greater Cincinnati Development Authority (Port Authority) has been awarded a $1,000,000 Hazardous Substance and Petroleum Assessment Grant by the US Environmental Protection Agency (USEPA) to conduct environmental site assessments on brownfield property in the City of Cincinnati.  For more information and to download an application, please visit the Port Authority’s website here: http://www.cincinnatiport.org/brownfields

USEPA Brownfield Assessment Grant
Through the City of Cincinnati, federal EPA funds are available for research/planning, inventory, and characterization of brownfield sites. http://www.epa.gov/brownfields/assessment_grants.htm

USEPA Targeted Brownfield Assessment
Program through which EPA provides a contractor to conduct environmental assessment activities. http://www.epa.gov/R5Brownfields/

USEPA Brownfield Cleanup Grant
Through the City of Cincinnati, federal EPA funds are available for the assessment and cleanup of contaminated properties. This funding is also available for environmental monitoring. http://www.epa.gov/brownfields/cleanup_grants.htm

ODOD Urban Redevelopment Loan
Provides funding to acquire land/building, remediate brownfields, infrastructure/ site preparation, demolition, roads, bridges, parking, utilities, improve water/rail access. http://development.ohio.gov/Business/loans_grants.htm

Ohio Infrastructure Assistance

Roadwork Development (629) Account
This is an ODOD program for Off-site public roadway improvements, engineering for such roadways, moving or replacing utilities associated with existing roads. Utilities are not eligible unless building roads requires the moving of existing utilities. http://www.development.ohio.gov/Business/OGTI.htm

Ohio Rail Development Commission
Eligible for Rail additions or improvements to support businesses. http://www.dot.state.oh.us/divisions/rail/Pages/default.aspx

Ohio Public Works Commission
OPWC provides grants, loans, and financing for debt support and credit enhancement for local infrastructure projects. Eligible projects include improvements to roads, bridges, culverts, water supply systems, wastewater systems, storm sewer collection systems and solid waste disposal facilities. http://www.pwc.state.oh.us/

OWDA Local Economic Development Fund
The OWDA provides funding for construction, inspection, & legal for water and wastewater systems involving brownfield remediation. http://www.owda.org/owda0001.asp?PgID=pi-summary

OWDA Brownfield Fund
This resource provides funding for engineering, design, construction, inspection and legal for water and wastewater systems. This fund is eligible for both assessments and remediation but Site must be part of a Voluntary Action Plan. http://www.owda.org/owda0001.asp?PgID=pi-summary

Small Business Loans

MicroCity Loan Program
The City offers a loan of up to $35,000 for fixed assets and working capital for small businesses expanding in or relocating to the City of Cincinnati. Funding is available to successful growing or emerging small businesses that meet our underwriting requirements and are located within the City of Cincinnati. http://www.cincinnati-oh.gov/cdap/pages/-33427-/

Grow Cincinnati Loan Program
The City offers a loan of up to $1,000,000 for working capital and improvements for small businesses expanding in or relocating to the City of Cincinnati. The average loan amount is between $50,000 and $250,000. http://www.cincinnati-oh.gov/cdap/pages/-33426-/

SBA 7(a) Loan Program
To help start-up and existing small businesses, the SBA guarantees loans made by participating lending institutions. This reduces the risk to the lender but not to the borrower who remains obligated for the full debt. http://www.sba.gov/financialassistance/borrowers/guaranteed/7alp/index.html

SBA 504 Loan Program 
Provides long term, fixed rate, fixed asset financing for small businesses.  Administration of this program is through the Hamilton County Development Corporation. http://www.hcdc.com/financing/sba504

Ohio Enterprise Bond Fund
A Loan for the purchase of land/building/machinery, construction/ renovation, long-term lease, purchase of fixed assets. http://development.ohio.gov/Business/loans_grants.htm#OEBF

Ohio Manufacturing Assistance

Ohio Manufacturing Machine & Equipment Investment Grant 
Provides a nonrefundable corporate franchise or state income tax credit for manufacturer located in Ohio that purchases qualified new or retooled machinery and equipment that is used in manufacturing. http://development.ohio.gov/Business/Tax_Credit.htm

Ohio 166 Loan
The "166" Loan Program is designed to assist growing manufacturing businesses acquire machinery, equipment and real estate by reducing overall debt service requirements through blending the "166" loan with conventional bank financing. http://www.hcdc.com/financing/166

Local Tax Incentives

City of Cincinnati Job Creation Income Tax Credit 
A non-refundable tax credit created for companies that create at least 25 jobs in the City within 3 years of adoption of an agreement. http://www.cincinnati-oh.gov/cdap/pages/-3485-/

Property Investment Reimbursement (PIR)
Cincinnati offers this incentive to businesses that are considering expanding or relocating to Cincinnati. It is intended to offset cost of capital investment involved in expansion or relocation. http://www.cincinnati-oh.gov/cdap/pages/-3491-/

Commercial Property Tax Abatement (CRA)
Cincinnati offers this incentive for renovation or new construction of a commercial building or multi-unit residential (4 + units) in the City of Cincinnati. The amount of the abatement depends on the taxable improvements made to the property. http://www.cincinnati-oh.gov/cdap/pages/-3481-/

LEED Commercial Property Tax Abatement (LEED CRA)
Cincinnati offers a 75% tax abatement for new construction or renovation that achieves LEED certification from the US Green Building Council. Commercial buildings or multi-unit (4 + units) residential are eligible. http://www.cincinnati-oh.gov/cdap/pages/-16940-/

The Cincinnati Equity Fund (CEF)
CEF provides gap financing for downtown real estate development projects that would not otherwise happen but for the debt facility provided by CEF. Currently, there are two main offerings: a mezzanine loan product and mixed-use construction loan product. Both products offer components such as interest rates that are lower than those typically found in the local marketplace. http://www.3cdc.org/who-we-are/cef-and-cnmf/

State of Ohio Tax Incentives

Ohio Training Tax Credit
Provides tax credits for employers that train existing employees who are at risk of losing their jobs primarily due to skill deficiencies. http://development.ohio.gov/Business/Tax_Credit.htm

Technology Investment Tax Credit
Offers up to 25% of the amount invested in small, research and development and technology-oriented firms as a tax credit. http://development.ohio.gov/Technology/titc/

Ohio Historic Preservation Tax Credit
Provides a tax credit for the rehabilitation expenses to owners of historically significant buildings. Funding is distributed through competitive rounds based on economic benefit and regional distributive balance. http://www.development.ohio.gov/urban/ohptc/default.htm

Ohio Job Creation Tax Credit
Provides corporate franchise or state income tax credit for businesses that expand or locate in Ohio. Ohio Tax Credit Authority determines eligibility and terms. Business must demonstrate to the Authority that the tax credit is a major factor in its decision to go forward with the project. http://development.ohio.gov/Business/Tax_Credit.htm

Ohio Job Retention Tax Credit
Provides corporate franchise or state income tax credit for businesses that commit to retain a significant number of full-time jobs in the State of Ohio. http://development.ohio.gov/Business/Tax_Credit.htm

Ohio Research and Development Investment Tax Credit
Provides a nonrefundable tax credit against the corporate franchise tax and is designed to encourage Ohio’s corporations to invest in increased research and development activities. The credit equals 7% of the excess amount of Qualified Research Expenses. http://development.ohio.gov/Business/Tax_Credit.htm

Training Tax Credit
Provides tax credits for employers that train existing employees who are at risk of losing their jobs primarily due to skill deficiencies. There are $20 million in credits available annually with no single business receiving more than $100,000 per year. http://development.ohio.gov/Business/Tax_Credit.htm

Ohio Warehouse Machinery and Equipment Sales Tax Credit 
Provides an exemption from state and county sales tax for companies that purchase eligible warehousing equipment. Vendor needs a blanket exemption certificate, available on-line at the Department of Taxation’s website (http://tax.ohio.gov/) under Business, Tax Forms. http://development.ohio.gov/Business/Tax_Credit.htm

Contact:
Samuel Stephens, Senior Community Development Analyst
Phone: (513) 352-6251
Fax: (513) 352-6257   
samuel.stephens@cincinnati-oh.gov