Thursday, February 07, 2002

ReStoc, city work on revised agreement




By Gregory Korte
The Cincinnati Enquirer

        A deal brokered by Councilman David Pepper has kept ReStoc's plans for a 30-unit low-income housing project on Vine Street alive — at least for a week.

        Cincinnati City Council delayed a vote Wednesday that almost certainly would have resulted in the city backing out of a $770,000 contract with the Over-the-Rhine housing group.

        The delay will give the city and ReStoc time to hammer out a new agreement.

        Mr. Pepper, a freshman Democrat, was the lead vote on City Council to nullify the contract with ReStoc on Monday. And while he argued the contract wasn't legal, he said there are “consequences to not moving forward.”

        A November 2000 agreement called for the city to give ReStoc $770,000 toward the rehabilitation of seven vacant buildings on Vine Street. The remainder of the $4 million project would come from federal housing tax credits.

        But the ordinance authorizing that payment expired after six months.

        Mr. Pepper said he hopes that another week of negotiations will require ReStoc to:

        • Divest itself of any vacant buildings on Vine Street that are not part of the Vine Street Project.

        • Convert at least eight of its properties into owner-occupied units within 18 months.

        • Reinvest money from those sales into improving its current building stock.

        • Agree not to purchase any more buildings in Over-the-Rhine, except to complement its holdings through green space or parking.

        Representatives of the Race Street Tenant Organization Cooperative declined to say whether they would agree to any of those terms.

       



Cosby cancels, cites racial climate
Wharf development upsets Camp Dennison
Daughter charged in murder of father
State yanks Fiorini's insurance license
Taft touts firm as high-tech model
CAN ads called good beginning
Dater's widow blasts charity board
Defendant says he killed 3
Ex-funeral director charged
FEMA scolds river town for delay in filing report
Kiwanis pay for play area upgrade
Performers want Covedale Theater
- ReStoc, city work on revised agreement
Robot builders working fast
Saks gets its $6.6M subsidy
Tristate A.M. Report
HOWARD: Some Good News
PULFER: In courtroom
Athletic fields to cost $1.2M
Group reports business booming
Main St. widening upsets some in Mason
Mason woman working in Antarctica: 'It's cold!'
New legal wrinkle: OxyContin defense
Kidnapping added to murder charge
Aquarium adds a rehab facility
Gunman robs pawn shop in Taylor Mill, escapes
N.Ky. PAC has a plan
Sex offender unregistered in Ky.