By Ken Alltucker
Enquirer staff writer
The regional port authority this week will get a $2 million federal grant to build a road at the long-delayed Banks riverfront development.
The Economic Development Administration grant will be used to construct Freedom Way, a four-lane, elevated road connecting Elm and Vine streets. The city of Cincinnati will be expected to pay for the rest of the $4.4 million project.
Port of Greater Cincinnati Development Authority leaders already have secured nearly $25 million in federal and state grants for parking garages that will serve as the foundation for the Banks. The garages are needed to lift the proposed neighborhood of condos, shops, offices and entertainment out of the flood plain.
The Banks has languished for three years as the port authority has sought to secure money to pay for the riverfront neighborhood's garages and streets.
Three development teams were named as finalists for the project, but none submitted formal plans because of a lack of funding.
The port and the private development group Cincinnati Center City Development Corp. are tweaking the Banks proposal and expect to unveil a revised plan this fall.
The federal government selected the Banks because of its potential to replenish more than 530 industrial jobs lost in Cincinnati since January 2003, said Robert Sawyer, the Economic Development Administration's regional director in Chicago.
The proposed riverfront neighborhood is expected to create at least 5,000 jobs, generate $171 million in annual payroll and attract $200 million in private investment.
Commerce Secretary Don Evans will award the grant to the port authority during a scheduled Wednesday visit.
Bronson: The Hoo-Ah survey trends presidential
DARE teacher receives award
PRESIDENT BUSH'S VISIT
I've worked for you, Bush tells veterans
Old soldiers expect word to be followed by action
Bush avoids demonstrators
Davis shares Bush spotlight
Powell: Reassigning troops is necessary
Powell, Bush tour Freedom Center
OTHER LOCAL HEADLINES
$2M grant to pay for Banks road
Plane wreckage being cleared
Fee may join tax bills
Fire chief studies fiscal cuts
Adult charges sought in attack
Man arraigned in park incident
Physician charged with Medicaid fraud
Porn case sparks volunteer worries
Beetle battlers can spare wood
Court examines injury case rules
Appeals Judge Winkler to sit with high court
Local news briefs
Freedom owner's debt woes multiply
Project's residents oppose razing it
Retail center plan on table
Racing board hires director
Finding lost black schools
Smarty Jones begins Kentucky retirement
Kentucky news briefs
City schools overspent $21.7M
School year opens with fresh features
Bigger store welcomes teachers, and it's free
Back to school section
Ceremony to celebrate Finneytown's new stadium
Subdivision access debated
Loveland roads close for resurfacing
Edward R. Royek, N.Ky. chiropractor for four decades
Sales manager warm, caring