the Banks

Howard Wilkinson / WVXU

General Electric, a week after it announced it would build its Global Operation Center at The Banks, held a celebration today in their temporary headquarters with Gov. John Kasich and a host of elected officials and community leaders who had a hand in bringing the center to Cincinnati.

Cincinnati City Council and the Hamilton County commissioners approved packages of tax incentives to nail down the deal. Kasich’s private, non-profit development firm, JobsOhio worked for months with GE officials to convince them to bring the operations center here.

The Banks

Cincinnati and Hamilton County have cleared the way to bring General Electric's Global Operations Center to The Banks. 

City Council and the County Commission Monday morning approved several packages of incentives cementing the deal.  GE is expected to bring nearly 1,800 jobs with an average total payroll of $142 million per year.

The five-year lease includes five, 5-year renewal options.

GE

Cincinnati Mayor John Cranley will not confirm media reports General Electric plans to locate its U.S. Global Operations Center and 1,400 new jobs at The Banks development.  

Cranley was asked about the issue Thursday during a press conference on another topic.  Cranley said reporters should write stories once GE makes its official announcement.

Road construction on the Cincinnati riverfront will close eastbound Freedom Way from Rosa Parks Street to Elm Street starting Wednesday morning and continuing through July 24th.  Traffic in the westbound direction will not be affected.

A press release said the partial closure will allow work crews to remove and replace the existing sidewalk and pavement at Freedom Way and Race Street.  The project includes modifying expansion joints and installing a permanent railing.

Provided, The Banks

 

Hamilton County and the Bengals have a reached a deal that could pave the way for luring General Electric to the Banks.

The county announced Thursday the Bengals have agreed to waive height restrictions that would've halted a office space large enough to house General Electric's new Southwest Ohio Global Operations headquarters and a planned apartment building in exchange for six items.

Commissioner Greg Hartmann says the deal will allow the county and city to aggressively bid for GE.

Ann Thompson / WVXU

Cincinnati Council is expected to vote Wednesday to issue $8 million worth of bonds to finish another portion of Smale Riverfront Park.  That borrowing likely will mean city homeowners will not see a decrease in a portion of their city property taxes.

Issuing bonds is essentially the same thing as taking out a mortgage on a house.  You get a large lump sum of money up-front and then pay it back over a long period of time.  The city sets aside a portion of its property tax revenue to make these payments.  

A restaurant at the popular riverfront Banks development is in default and may be forced to close.   

Mahogany’s at The Banks has ten days from Thursday to pay $50,658.47.

The letter states:

Jay Hanselman

Mayor Mark Mallory, quickly coming to the close of his eight years as Cincinnati mayor, used a combination of serious talk, comedic one-liners, videos and slide shows Tuesday night to make the case that he has helped turned a struggling city around.

Before a crowd of about 200 invited guests on a set dressed like a living room at Over-the-Rhine’s Ensemble Theatre, Mallory talked for an hour and five minutes about the legacy he leaves when he vacates the mayor’s office Dec. 1.

The Banks Partnership

More road closures are coming along the riverfront near the Banks and the stadiums.

Here's what you need to know:

Section of Pete Rose Way to close for a series of concrete pours to create Pedestrian Bridge walking surface.

WHAT

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