Thursday, January 31, 2002
Council panel getting Saks, ReStoc deals
By Gregory Korte
The Cincinnati Enquirer
City Council's Finance Committee will take up two controversial development issues Monday:
A $6.6 million subsidy for Saks Fifth Avenue.
A $770,000 subsidy to an Over-the-Rhine housing developer.
The Saks deal would use tax-increment financing payments made by other downtown businesses to remodel the store at Fifth and Race streets.
When approved in principle in November, the Saks deal passed 5-4. City Council must now vote on a specific contract negotiated by the city manager.
With Mayor Charlie Luken no longer on City Council, supporters of the Saks deal Minette Cooper, Paul Booth, Chris Monzel and Jim Tarbell will have to find a fifth vote from one of the new members, David Crowley or David Pepper.
The second development contract, with the Race Street Tenant Organization Cooperative, would allow ReStoc to develop seven buildings on Vine Street.
The Department of Neighborhood Services and Housing signed the contract this month, but opponents on City Council got the funds frozen over questions about the contract's legality.
Currently, four councilmen support canceling the contract: John Cranley, Pat DeWine, Mr. Monzel and Mr. Tarbell.
Mr. Pepper, the likely swing vote, said he's undecided.
Also at City Hall this week:
Appointment: City Council confirmed Mr. Luken's appointment of Dr. Art Schriberg as chairman of the Human Relations Commission.
Speed limits: City Council voted to ask the Ohio Department of Transportation to study speed limits on Fort Washington Way.
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