Monday, June 21, 1999
Forest Park seeks retail
City offers waiver to big developers
BY MARIE McCAIN
The Cincinnati Enquirer
FOREST PARK — City officials have begun drafting an incentive plan to attract big-ticket developers. The initiative focuses on redevelopment and job creation and will offer prospective businesses a waiver on certain building permit fees if they promise to invest at least $5 million plus land costs.
In addition, an eligible developer must have a project big enough to employ at least 100 full-time people after construction is done, said Forest Park's Economic Development Director Paul Brehm.
Closures leave void
After a successful five-year stream of development and redevelopment along the Winton Road corridor and along Northland Boulevard that added up to a minimum $40 million, city leaders are searching for ways to attract businesses to fill areas left vacant by recent closures.
Two such vacancies are the former Parisian store in Forest Fair Mall which closed in July, and the Builders Square in Cobblewood Plaza which closed in August.
“We are trying to figure ways to be active participants with Forest Fair Mall and Cobblewood Plaza,” Mr. Brehm said.
Overall, the building permits for a minimum $5 million project could tally between $30,000 and $50,000, Mr. Brehm and Mayor Wayne Coates said.
Whether these savings are enough of a deal to attract such businesses remains to be seen; however, both Mr. Brehm and the mayor said the incentive would neither “make or break” anything.
Incentive to lure retail
Rather, the incentive is meant to fill a gap that isn't covered by existing enterprise zone statutes — specifically, retail projects that can't use enterprise zone abatements, Mr. Brehm said.
This initiative would be locally controlled and operated, officials said.
City Council has been briefed on the plan, but no final vote has been set.
Mr. Brehm said he hopes to finish the plan for council to vote by August.
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