Proposed use of TIF funds for "Omar's Redevelopment" Mixed Use Development in Evanston
Background
This project is being developed by Johnson Cooper LLC. Johnson Cooper is a relatively new development entity who has previously been involved with four other real estate developments, three of those being in Cincinnati.
Proposed Project
The project is a mixed-use development comprised of one (1) historic building. The project site is located on a 24-hour bus route and is within both the Evanston Business District and the newly formed Evanston Historic District. The project will produce 6 mixed-income residential units: three (3) one-bedroom units and three (3) two-bedroom units. Three of the six units are proposed to have rents that will not exceed what is affordable to households making 60% of the Area Median Income (AMI) and the remaining three units will not be restricted. The project includes approximately 5,000 square feet of commercial space with one commercial unit proposed. Total project cost is projected to be approximately $1.25 million, with construction costs at approximately $1 million. The project is estimated to take 12 months to complete and is projected to support the creation of 20 temporary construction jobs with a total annual payroll of approximately $500,000 and 2 full-time permanent jobs with an estimated annual payroll of approximately $60,000. The developer intends to begin construction in Summer 2025.
DCED is proposing a 15-year, net 52% Community Reinvestment Area (CRA) tax exemption in addition to up to $602,000 in direct financial assistance from the Evanston Tax Increment Financing (TIF) District. Approximately $300,000 would come from the affordable set-a-side and the remaining balance from the base TIF.
Past Public Meetings
Virtual Community Engagement Meeting
Date: Tuesday, April 29th, 2025
Location of Proposed Project
3341-3345, 3349, and 3351 Montgomery Road Cincinnati OH, 45207 in Evanston.
Related Materials
Contact
For questions related to the public engagement meeting, please contact:
Eunique Avery, Community Engagement Specialist | Eunique.Avery@Cincinnati-oh.gov | 513-713-8982