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Business Development News Politics

Senate bill would offer tax credit to residential landlords making energy upgrades

State Senator Eric Kearney (D-Avondale) introduced a bill which would create a tax credit for landlords who improve the energy efficiency of their buildings. Senator Kearney hopes that the bill he introduced last month will encourage residential landlords to update their units and lessen the utility costs on their tenants.

“I received complaints from constituents who live in apartments that lack general upkeep and every month they pay for the lack of maintenance” Senator Kearney stated. “My constituents in rental units deserve to live in safe, eco-friendly environments that decrease their utility bills, and Senate Bill 310 provides landlords with positive incentive to make changes.”

If implemented, the bill would give residential landlords a 15 percent income tax credit for making upgrades by installing energy-saving devices, replacing aging appliances with Energy Star-rated appliances, sealing and insulating air ducts, and upgrading exterior wall windows and doors.

Improved sealing and insulation of duct work has been reported as saving as much as 20 percent in energy costs alone.  Senator Kearney says that the idea of making these efficiency upgrades is one that benefits everybody, and one that is particularly relevant in today’s economy.

“Energy costs are rising and given the unfortunate state of our economy few people can afford increased utility bills, especially if they are related to a lack of maintenance.”

The proposed legislation does more than simply promote energy upgrades, it also incentivizes upgrades to historic structures which most often house renters in multi-unit dwellings within the city’s inner neighborhoods.  The news comes on the heels of complimentary legislation introduced by Senator Kearney in September that proposed a 25 percent tax credit for the renovation of homes built before 1950 in low income neighborhoods.

“Both the property and the greater community benefit from home renovations. When homeowners invest in their properties the monetary value of the neighborhood increases along with its reputation.”

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Business Development News Transportation

Kenton County Planning Commission votes to adopt Roebling Point Plan

Last week, the Kenton County Planning Commission voted 11-5 in favor of adopting Covington’s Roebling Point Plan into the county’s comprehensive plan. Roebling Point, located at the foot of the historic Roebling Suspension Bridge, is home to such local favorites as Molly Malone’s and Keystone Bar & Grill.

Given that most view the comprehensive plan as a guide for the region, the vote was seen as a big step forward for the City of Covington as it hopes to redevelop one of its most important gateways into a more pedestrian friendly and generally more livable bar/restaurant district.

“Incorporating the plan will allow for a smoother zoning transition when new commercial moves in, streamlining zoning decisions to quicken the process for developers,” explained Covington Assistant City Manager Larisa Sims.

If the land use recommendations in the plan are followed, the new commercial development will consist of mixed-use design that complements, but does not copy the existing historic infrastructure. Sims points out that Roebling Point’s geography is unique in that it has the possibility of bringing together a variety of aesthetics.

“The area is on the verge of success,” Sims says. “It’s located between high density office use to the west and the historic Licking Riverside District to the east. The area highlights the importance of, and creates a balance between, new mixed-use development and historic preservation.”

Last week planners also outlined the specific elements of the Roebling Point Plan for four key areas:

  1. West side of Scott Street between 3rd and 4th (Gateway Building): No significant change is proposed for the Gateway Building. The plan states that the structure is an appropriate size and it incorporates well designed features for pedestrian scale. Uses encouraged in this building are retail or office on the ground floor, with office above.
  2. Southwest corner of Scott and 4th Street: This block is part of the Times Star Commons Public Space Plan. The plan focuses on the preservation of the existing historic buildings, specifically the Times Star Building. The plan also calls for the redevelopment of the J&R auto repair that is on the corner of E. 4th Street and Electric Alley.
  3. 4th Street, Tobacco Alley, and Scott to Greenup Street: The plan calls for general reinvestment and rehabilitation in this section of the study area.
  4. East side of Greenup Street, from 3rd to Tobacco Alley: The plan indicates that the mix and scale of the development here is generally appropriate.

Land Use, growth, and redevelopment
While there are many land use recommendations within the district plan, the possible reuse or demolition of the county offices and county jail at 303 Court Street is one of the most intriguing. Currently, the County is discussing whether this building will be needed once the new jail is fully functional. If the offices are also eventually moved out of this building, the plan would recommend two alternatives.

First, if the building is not demolished, the plan would prefer changes be made to the facade of the building, and that the addition on the west side of the building be removed to create more pedestrian friendly space. The recommended use of this building would be residential or office.

Second, if the building were to be razed, the design of the building should be creative, and incorporate opportunities for open spaces and pedestrian amenities mid-block. The recommended use of this building is residential, or office, with retail opportunities on the first floor.

Transportation & Urban Design
One of the main transportation recommendations in the plan involves an area called ‘The Yoke’ which is a small green space with a police memorial located next to The Ascent. Currently there are two traffic ramps that separate two small islands of green space from the police memorial. The plan recommends the elimination of these ramps in order to provide safer access to this underutilized public amenity.

The plan also recommends, among other things, to identify locations and preferred methods for streetscape enhancements and pedestrian amenities. It specifically suggests making use of the local alleys in the surrounding neighborhoods for walking, biking, and safe vehicular traffic. The plan also outlines identifying areas for new public spaces and utilizing urban design methods for enhancing safety and cleanliness.

The plan’s architectural design objectives include protecting the community’s historic architecture, while allowing flexibility for appropriate new development. In order to accomplish this, the plan lists two main specific recommendations.

  1. Keep the Historic Preservation Overlay zone in place in order to facilitate historically appropriate and compatible design.
  2. Update and amend the Historic Covington Design Guidelines to codify flexibility and consistent interpretation.

The first implementation committee meeting for the plan will be held November 15th at 6pm, the public is welcome. The meeting will outline and give a more detailed prioritization of the action items within the plan. Initial plans are already underway to meet with the owner of the Keystone Bar & Grill to discuss sidewalk expansion along Park and Greenup. These sidewalk improvements are scheduled to begin in the spring.

Additionally, funds are currently being raised for the improvements to the Yoke/Police Memorial and changes to the Yoke parking lot have already been made to try to increase usage. Additional recommendations in the plan will continue to be evaluated.

“Long term implementation will largely depend on the interest and activity from property owners and developers specifically related to land use and redevelopment of each block,” Sims stated. “The City will continue to promote its incentives and work as a facilitator to make this vision a reality.”

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Business Development News

OEDA recognizes Cincinnati for industry leading marketing efforts

The Ohio Economic Development Association (OEDA) recognized Cincinnati for its efforts in marketing and volunteerism at its annual summit held last week in Columbus. OEDA officials say that the awards program is meant to recognize the achievements of both individuals and organizations throughout the state in the areas of economic and workforce development.

The City of Cincinnati’s Economic Development Division was recognized for its new Choose Cincy website which debuted earlier this year. The new website replaces a previously buried site on the City’s main page, and has dramatically improved access to information for those interested in the economic and demographic activities in Cincinnati.

“The new website signified a huge step forward on how we communicate with the economic development community as we seek new investors and bring jobs to Cincinnati,” Interim Economic Development Director Patrick Ewing said in a release. “This will help us to further compete in a global economy.”

The other recognition went to Cincinnati Neighborhood Business Districts United (CNBDU) organization for excellence in volunteerism. Two individuals, Mike Wagner and John Price, were specifically identified for their years of service leading the non-profit group that works to improve Cincinnati’s many neighborhood business districts (NBDs).

Wagner and Price started the organization in 1993 and have helped secure roughly $30 million in City funding for nearly 200 capital improvement projects, like streetscaping work, throughout many of Cincinnati’s NBDs.

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Business Development News

Yoga Row creating new business unions along Main Street

A visit to Main Street between 8th and Liberty streets nowadays reveals a neighborhood not only on the mend, but on the rise.

“There are a few signs that keen-eyed observers of urban areas look for that an area is changing,” says Main Street business owner Nancy Willman. “The increased use of bicycles, people walking pets, a new hardware store or successful bakery, and another is the growth of yoga studios. Main Street shows all these signs — especially now with four yoga studios equally spaced along eight blocks of Main Street.”

The owners of Main Street Yoga, Yoga Bar, You Do Yoga, and the Joyful Life Yoga Center have collaborated together to form a new project, nicknamed “Yoga Row.”

“While competition may be the norm in American business it has no place in yoga,” explains Yoga Bar owner Rachel Roberts. “The word ‘yoga’ translates to union, and that is the spirit in which the four Main Street studios have come together with our yogi friend and green grocer, Dan Korman of Park+Vine. We want to foster community, to reach more people and to help students find their style or blend of styles and their teachers.”

The four studios offer a wide variety of teaching styles and yoga classes, and it can seem overwhelming to those who might be looking to begin or continue their practice. Yoga Row collaborators have created the solution to this problem through the Yoga Row Passport.  Available for purchase at Park+Vine, this $20 pass renders the owner eligible to take one class of their choosing at each studio, for free.

“By offering this Yoga Row Passport, students can try four distinct schools of yoga and a variety of teachers at a very affordable cost, giving them the time and experience needed to cultivate a sustainable practice,” said Roberts. “After they have visited all four studios they can use their passport for 20 percent off a yoga mat or any other item at Park+Vine.”

Photo Credit: Rachel Roberts

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News Transportation

Modern streetcar to be on display in downtown Cincinnati through 11/10

If you have not been one of the hundreds of Cincinnatians to make the trip to Portland to see modern streetcars in action, or visit one of the many global cities with them in operation, then tomorrow is a great chance to see one up close and in person.

City officials sent out a message late Thursday stating that the first modern streetcar made in America since the 1930’s will be on display at 5th and Walnut streets in downtown Cincinnati on Friday, November 5 from 1pm to 7pm. Those who are unable to check it out for themselves on Friday will have another chance from 11am to 7pm daily through Wednesday, November 10.

“This is a perfect opportunity to pierce the veil of misunderstanding about what our city is trying to do with this project,” streetcar supporter John Schneider stated in an email.

City officials do note that while the Cincinnati Streetcar may end up being this particular model, the final decision on that has yet to be made, but they say that it will give a great idea for what to expect once Cincinnati’s modern streetcar system is operating in 2013.

The mayor is expected to hold a news conference at 1pm on Friday to discuss the project and this type of streetcar model. After the streetcar leaves Cincinnati it will make its way to Portland to join their existing streetcar fleet.