BY LISA DONOVAN
The Cincinnati Enquirer
By the time Cincinnati officials make their final pitch for a $100 million federal grant to rebuild some of the city's most blighted neighborhoods, more than $1 billion in matching local funds and services will be pledged.
City Manager John Shirey said he hopes the pledges from local businesses, non-profit organizations and city government will provide the leverage necessary to win a federal empowerment zone designation.
Mr. Shirey told a joint session of the Finance and Neighborhood, Small Business Development & Environment committees that between $500 million and $1 billion had been secured "with other letters and commitments to come in."
Some of the total includes the city's proposal to kick in about $200 million over the 10 years of the program. It also includes the promise of 1,800 jobs, including a commitment from Frisch's restaurants to provide 1,200, for residents of the empowerment zone over 10 years.
"We're also expecting local banks and foundations to kick in some money as well," said Timothy Sharp, special assistant to Mr. Shirey.
The proposed empowerment zone consists of nine contiguous neighborhoods: Avondale, Clifton-Fairview Heights, Corryville, Evanston, Mount Auburn, Over-the-Rhine, Queensgate, Walnut Hills and the West End.
Cincinnati is competing for one of 15 available designations awarded through the U.S. Department of Housing and Urban Development (HUD). Such a designation would mean the neighborhoods would be entitled to $100 million in cash, the ability to issue $130 million in tax-exempt bonds for private-sector projects and other tax incentives for businesses.
Enlisting additional local and regional support bolsters the application, officials say.
During today's weekly city council meeting, officials are expected to pass an ordinance and resolution supporting the empowerment zone designation.
