Ohio

City council gives a green light to controversial projects at OTR

Over the Line’s major $ 80 million project has been approved by the city council after concerns have been raised about including affordable housing in development. The development includes 300 new apartments, a multi-purpose space, an underground car park right next to the tram, and just two blocks from Findlay Market. Rent ranges from $ 1,200 to $ 2,800 per month. They voted for version B approval after the updated plan was submitted to the council for review. In this plan, OTR-based developer KEAN Ventures did not need to include affordable homes, but promised to secure some units to receive subsidies. A low income tax deduction for people with incomes 50-60% below the median local income. They plan to apply for a tax credit next year. On Wednesday, councilor Jan Michele Lemon-Kearney asked about the need to wait. “What residents want is some guarantee that they won’t be taken on board, and I think this promise to apply for a low-income housing tax credit is really real and possible. Why did the second question come, “Is this a viable project?” Said Lemon Kearney. The project contains 200 temporary jobs. It also includes a 30-year tax cut for developers.

Over the Line’s major $ 80 million project has been approved by the city council after concerns have been raised about including affordable housing in development.

The development includes 300 new apartments, a multipurpose space, tramway roads and an underground car park just two blocks from Findlay Market.

Rent ranges from $ 1,200 to $ 2,800 per month. They voted for version B approval after the updated plan was submitted to the council for review. In this plan, OTR-based developer KEAN Ventures did not need to include affordable homes, but promised to secure some units to receive subsidies. Low income tax deduction for people with incomes 50-60% below the median local income.

They plan to apply for a tax credit next year. On Wednesday, councilor Jan Michele Lemon-Kearney asked about the need to wait.

“What residents want is some guarantee that they won’t be taken on board, and I think this promise to apply for a low-income housing tax credit is really real and possible. Why did the second question come, “Is this a viable project?” Said Lemon Kearney.

The project contains 200 temporary jobs. It also includes a 30-year tax cut for developers.

City council gives a green light to controversial projects at OTR

Source link City council gives a green light to controversial projects at OTR

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