Cincinnati Council's Budget and Finance Committee holds one of its last scheduled meetings Tuesday before a new mayor and council take office on December 1st. The group faces a busy agenda since many sessions in September and October were canceled.
The group is expected to approve several incentives packages that will bring new jobs and new housing to the city.
One plan would extend a job creation tax credit agreement with Eurostampa North America located in Roselawn. It would allow the company to complete a $4 million dollar expansion at its facility on Seymour Avenue. That would allow it to create 40 new jobs. Eurostampa specializes in producing labels for food and beverage containers, including many well-known brands sold throughout the world.
Another agreement with Core Resources, Inc. would bring 24 new jobs to Vine Street in Over-the-Rhine. It's a general contractor and construction management company previously located in Anderson Township. City officials say Core Resources wants a larger space that's more centrally located. The city is offering a property investment reimbursement agreement.
Council also will likely approve a plan with VP3, LLC to construct a housing project and a private parking garage in Corryville. The plan will include 148 rental units and 16 townhouses in the neighborhood.
Meanwhile, the committee is being asked to approve a couple of grant applications.
The OKI Regional Council of Governments is offering the city a $500,000 grant to install a bikeway on Central Parkway between Elm Street and Ludlow Avenue. Cincinnati will have to provide a 20-percent match to complete the project. City officials will be working with the Ohio Department of Transportation to implement the plan. It's designed to improve safety, accessibility and mobility for people on bicycles.
The city is also pursuing a $736,520 grant from the Clean Ohio Assistance Fund. It would be used for an environmental clean-up of the former Eden Park pump station. The facility has been vacant since 2005. The city owns the property and plans to lease it to Brewery X, LLC which has committed to investing $3.5 million dollars to renovate the building into a production brewery and tasting room for events.
The Budget and Finance Committee meets at 1 p.m. Tuesday at City Hall.