Three housing projects in Cincinnati are getting more than $3 million in Low Income Housing Tax Credits. LIHTC awards are very competitive and often make the difference between building a project or not.
In exchange for the exemption, developers will make payments over the next 15 years: about $1.5 million total to Cincinnati Public Schools, and about $700,000 total to VTICA, the city's streetcar fund. The VTICA payment alone is worth more than what the city will give up in property taxes.
"Our daughter is a person, a teenage girl, a kid like every other; being trans is only a facet of who she is," said Kris Hanks Patton of Cincinnati. "I am here to stand up for her and every single trans kid just like her. These children are being attacked from all angles. They need us to fight for them."
The report shows about 1,200 new income-restricted housing units from 2019 to 2021. Of those, 80% were in just three neighborhoods: Walnut Hills, Avondale, and the West End.
Council will vote Wednesday on two proposals: a one-time deposit into the Affordable Housing Trust Fund and an expansion to the new Housing Advisory Board.