Blue Ash City Council Accepts Financing Agreement
Blue Ash, OH (3/23/2017) – Blue Ash City Council voted March 23rd to approve a tax increment financing (TIF) agreement to support a 75-acre, multi-phase development next to Summit Park. The first phase of the project will include two hotels, a mixed-use building that will feature apartments and retail/restaurant space, and a senior living facility. Future phases will include Class A office space, housing, dining, retail, and entertainment options.
The Port of Greater Cincinnati Development Authority Board of Directors earlier this month approved entering into a cooperative agreement, allowing the Port Authority to issue up to $24 million in financing bonds for the development. Sycamore Community Schools recently approved a resolution to enter into a school compensation agreement also in support of the development.
“The development on the property adjacent to Summit Park will bring more amenities to Blue Ash, ensuring that the City remains one of the best places to live, work, and play. We are thrilled that our great partnerships with Sycamore Community Schools and the Port Authority helped move this project forward,” said Blue Ash Mayor Lee Czerwonka.
The 75 acres are part of the 108-acre development on the former Blue Ash Airport property to be developed by Al. Neyer, Vandercar Holdings, and MI Homes.