Proposed Use of TIF Funds for the Acquisition of Properties on Cooper Street in Northside
Background
The co-applicants for this project are the Port Authority and the Cincinnati Northside Community Urban Redevelopment Corporation (NEST). The Port is a quasi-public nonprofit real estate redevelopment agency that has a multitude of experience in single-family home development/rehab, industrial site selection, remediation, large site development, and commercial/multi-family developer. NEST has experience in community led development including SFH development, LIHTC co-development, commercial development, beautification, and public/quality of life improvements.
The project sites consist of approximately 2.24 acres of vacant, former industrial land. Future use of the site will be explored by the applicant team.
Location and Existing Site:
The subject properties consist of 11670 Cooper St (194-11-242) and 3924 Cooper St (94-11-256) both located in Northside.
Engagement
NEST and the Port presented at the Northside Community Council (NCC) July meeting on 7/15/24. NEST will lead community engagement throughout the project, with the Port providing support.
Proposal:
The proposal includes acquisition of the site from a private owner to ensure public/neighborhood control. The project will include environmental soil remediation. Future development plans will involve recruitment of developer(s) to achieve outcomes consistent with approved City and Northside plans. The applicant team is requesting up to $4,150,000 in Northside Tax Increment Financing (TIF) District funding, which may include a combination of cash grants or loans and future TIF revenue pledges. The exact amount and debt structure has yet to be determined.
Past Public Meetings
A community engagement meeting was held on Wednesday, July 31st, 2024, at 5:30pm virtually on Zoom. For more information, email Eunique Avery at Eunique.Avery@cincinnati-oh.gov or read the meeting summary below: