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Cincinnati City Council aims to clear path for $47M downtown office conversion project

Posted on AllSides March 25th, 2024
From The Center

CINCINNATI (Cincinnati Business Courier) - The Atrium Two building downtown will be exempt from property taxes for the next 30 years under an ordinance recently passed by Cincinnati City Council with the goal of seeing the longtime office tower converted to residential use. The city is taking advantage of a rare financing mechanism that may be allowed under state law because it was once in the chain of title for the property where Atrium Two is located in 1982 when it was built. The concept is known as a “.41...

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https://local12.com/news/local/cincinnati-downtown-office-tower-conversion-project-atrium-two-tif-property-taxes

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