This quarterly forum provided organizational overviews and updates on neighborhood developments and revitalization efforts. The Port discussed its involvement in the West End neighborhood, including a community benefits agreement and memorandum of understanding with Seven Hills Neighborhood Houses regarding housing developments. Plans were outlined for a housing study and community engagement process to gather input and make recommendations. Updates were also provided on residential and commercial real estate projects throughout Cincinnati neighborhoods.

1. QUARTERLY FORUM
DECEMBER 5, 2018

2. Find The Port
on the Web
http://bit.ly/portlinkedin
@CincinnatiPort
www.cincinnatiport.org

3. 3
QUARTERLY.
INFORMATIVE.
COLLABORATIVE.

4. Mike Smith, Vice President of Neighborhood Revitalization
Eric Kearney, President and CEO, African American Chamber
Intro

5. Board of
Directors
ORGANIZATIONAL OVERVIEW
BOARD CHAIR VICE CHAIR
Charles J.
Luken
Manuel M.
Chavez III
Dr. Pradeep K.
Bekal, MD, FACG
Sister Sally Duffy,
SC
Robert W.
Fisher
Damon D. Jones
Mario J.
San Marco
David O.
Smith
Shane M.
Wright
Patricia Mann
Smitson

6. Vision 2022
The Port serves our community
by cultivating partnerships that
unlock the hidden value of real
estate and realize the long-term
prosperity for everyone in
Hamilton County.
ORGANIZATIONAL OVERVIEW

7. WEST END
NEIGHBORHOOD DEVELOPMENTS:
Jessica Powell, Vice President of the Hamilton
County Landbank

8. Overview
NEIGHBORHOOD DEVELOPMENTS: WEST END
• Background on West End and The
Port’s involvement
• CBA
• MOU
• Housing Study & Community
Engagement
• Moving Forward

9. West End
Background
Historically Black neighborhood
that has faced decades of
disinvestment and government-
sponsored demolition
NEIGHBORHOOD DEVELOPMENTS: WEST END

10. 2012-2017
Port
Involvement
WEST END: BACKGROUND
2013 Acquisition and stabilization of
abandoned and blighted Regal Theater

11. 2012-2017
Port
Involvement
WEST END: BACKGROUND
2013 – 2017Acquisition of 10 properties throughout
the neighborhood

12. 2017Stabilization (with City
funding) of 6 blighted
rowhouses on Baymiller
Avenue
2012-2017
Port
Involvement
WEST END: BACKGROUND

13. 2012-2017
Port
Involvement
WEST END: BACKGROUND
2017 – 2018Ongoing dialogue and agreement with
neighborhood CDC, Seven Hills
Neighborhood Houses (SHNH), about a
housing strategy in the West End

14. West End
Speaks Plan
• 18 Goals across 7 Themes
• Themes include Business, Clean, Community, Employment,
Housing, Safety, and Youth and Education
• Housing Goals include:
• Recognize the West End as a great place to live
• Improve property conditions
• Upgrade quality affordable housing units
• Support expansion of homeownership
• Plan completed without foresight of stadium
WEST END: BACKGROUND
2016West End neighborhood
completes the West End
Speaks plan to make
recommendations moving
forward

15. Port Involvement
Expands
WEST END: BACKGROUND
FCC Stadium Public Financing
CBA
MOUs
Housing Study & much, much more
2018Port involvement expands
beyond neighborhood work

16. Community
Benefits
Agreement (CBA)
Overview
CBA OVERVIEW
WHO:
Agreement amongst FC Cincinnati (FCC), The Port and the West
End Community Council (WECC).
WHAT:
Agreement that governs FCC stadium construction in the West End
and resulting impact and benefits to community. City council
conditioned City financing on FCC reaching agreement on CBA with
WECC and The Port being a party.
WHY:
The large public-private development presents the opportunity to
change the character of a historically underserved neighborhood.
WHEN:
Original CBA signed May 2018; amended twice; expires 2048.

17. CBA Details
CBA OVERVIEW
FCC development must be inclusive and equitable
• FCC agrees stadium construction will be done under The Port’s
inclusion standards (already required by our Board.)
• FCC agrees to First Source Hiring Program to ensure hiring from
neighborhood.
• FCC agrees to hold job fairs, pay $15/ hour
• FCC agrees to support youth soccer in the West End
SOURCE: CINCINNATI BUSINESS COURIER

18. CBA Details
CBA OVERVIEW
FCC must pay for a Housing Study
• To be commissioned by the Port (with input of SHNH)
• To evaluate existing housing in the West End and the impact
of the stadium on the community
• To make recommendations for future housing development
– both of Port owned property and other properties
• Up to $100K
FCC must pay for Community Engagement
• To be commissioned by the Port (with input of SHNH and the
WECC)
• To engage the community and solicit meaningful input and
dialogue about real estate development in the West End and
other quality of life issues
• Up to $50K

19. CBA Details
CBA OVERVIEW
FCC must put $100K annually into Community
Fund
• 30 year commitment
• Purpose: Supporting appropriate programming and community-
building activities in the West End
• Governed by a Board of Directors that includes at least 2
stakeholders of the West End
The FC Coalition must be created
• 17 member panel that is representative of different stakeholders
within the West End
• Appointed by Mayor
• Oversee CBA and make sure the promises made to the community
are kept
• Raise issues that arise with the construction of the FCC stadium
• Has input – not veto power – over the design of the stadium

20. CBA Details
CBA OVERVIEW
The Port will enter into MOU with SHNH that
governs the parties’ relationship on housing
development and other work in the West End
• The Port will make West End a focus neighborhood
• The Port will work with SHNH collaboratively to ensure
affordable housing needs are met
• First year’s community fund contribution to housing fund
FCC assigns its option to purchase 67 vacant
parcels owned by CMHA to The Port

21. Who is SHNH?
SEVEN HILLS NEIGHBORHOOD HOUSING
• A non-profit CDC that serves residents of the West End and
Cincinnati
• Founded in 1961 – serving individuals for over 50 years
• The CDC that is recognized by the WECC and The Port
• A one-stop social service agency offering a wide array of client-
driven services
• Limited housing development experience. However, prior to FCC
deal, determined that it wanted to play a larger role in housing
development in the West End.
• Supported by LISC, United Way and other funders

22. SHNH / Port
MOU
SEVEN HILLS NEIGHBORHOOD HOUSING
10/9/18Memorandum of
Understanding signed

23. SHNH / Port
MOU
SEVEN HILLS NEIGHBORHOOD HOUSING
Overarching MOU goals:
• Solidify parties’ relationship and partnership
• Serve as a communication channel with the West End
neighborhood
• Guide the course of the parties’ work in the West End’s
redevelopment and revitalization

24. SHNH / Port
MOU
SEVEN HILLS NEIGHBORHOOD HOUSING
Details:
• Consultation / input on all development done by either The Port or
SHNH
• SHNH to assist with, review and provide input on The Port’s
acquisition strategy
• “Hold” on most Port-owned housing until Housing Study can be
completed
• Focus Neighborhood for the Port
• Dedicated staff
• Access to DREAM Loan Fund
• Residential investment
• Housing Fund

25. SHNH / Port
MOU
SEVEN HILLS NEIGHBORHOOD HOUSING
Details - continued:
• Mutual commitment / partnership
• Integral partners for implementation of housing study &
community engagement
• Opportunity for SHNH to gain exposure and learn about housing
development from the Port
• Commitment to reinvest net proceeds back into the West End
• Reasonably pursue redevelopment of Regal for cultural arts venue
or other use desired by WECC & SHNH
• 6 Baymiller rowhouses The Port stabilized (with City $) and now
own
• 2 set aside for redevelopment by Habitat for Humanity
• Remainder listed on MLS to be sold at market rate

26. Housing Study
Goals:
• Supplement existing West End conditions data
• Contextualize the threat of displacement
• Determine the current state of the West End’s affordable housing
• Verification of existing conditions
• Implementable housing strategies and recommendations for the
future of real estate development in the West End
• Supplement – not replace – the 2016 West End Speaks plan
NEIGHBORHOOD DEVELOPMENTS: WEST END

27. Housing Study
Firm:
• APD Urban Planning & Management
• Based in Atlanta
• Minority-owned
• Firm’s principal from Cincinnati, with strong roots in the West
End
• History of providing comprehensive neighborhood planning and
community development services to underserved communities of
color
Resume Credentials:
• Work in Atlanta’s Westside neighborhood – historically
disenfranchised and home to the Atlanta Falcons
NEIGHBORHOOD DEVELOPMENTS: WEST END

28. Community
Engagement Goals:
• Strengthen relationships among West End community partners and
residents
• Empower resident leadership by equipping residents with an
understanding of inclusive practices and models
• Provide SHNH with community-based housing strategies and
actions
• Align SHNH, West End partners, and residents around revised WE
Speaks strategies
• Give The Port direction on its housing study and ways that it might
support the community’s vision.
NEIGHBORHOOD DEVELOPMENTS: WEST END

29. Community
Engagement
Firm:
• Design Impact
• Based in Cincinnati, Ohio
• A non-profit social innovation firm with a focus on “apply[ing]
creative and inclusive approaches to complex social challenges
[through] human-centered design, social justice and leadership
practice to address system-wide inequity.”
Resume Credentials:
• “Engaging Neighbors Through Art” with the Walnut Hills
Redevelopment Foundation (WHRF), Local Initiative Support
Corporation of Greater Cincinnati and Northern Kentucky (LISC)
and United Way of Greater Cincinnati
NEIGHBORHOOD DEVELOPMENTS: WEST END

30. Housing
Recommendations
Data
Collection
The Port
Community
Engagement
Design Impact
Housing
Consultant
APD
Housing
Recommendations
NEIGHBORHOOD DEVELOPMENTS: WEST END

31. Housing Study
APD
Community Engagement
Design Impact
Timing: October 2018 – June 2019 (9 months) Timing: October 2018 – January 2019 (4 months)
Required to consult with Design Impact Required to consult with APD
4 visits to Cincinnati 5+ half-day core team meetings, workshops and other meetings
Long-term recommendations based out of baseline data, tours
of neighborhood, community input and other factors
Long-term recommendations / sustainability planning
Resident coaching and leadership development

32. Moving
Forward • IFF/CDF $2MM loan fund for acquisition and stabilization of
historic vacant, blighted West End structures
• Implementation of recommendations & outcomes from Housing
Study and Community Engagement
• Regal Theatre stabilization
• Coordination with CMHA
• Fundraising for subsidy required for redevelopment / stabilization
• Evaluation of multi-family strategy
NEIGHBORHOOD DEVELOPMENTS: WEST END

33. Neighborhood
Revitalization
THE PORT
Deborah Robb, Director of The HURC
Liz Eddy, Director of Residential Development

34. Managed
Entities

35. Project Updates
NEIGHBORHOOD REVITALIZATION – 2012-2017
2019 Goal:
31 renovated houses
• 5 Avondale
• 9 Evanston
• 12 Price Hill
• 6 Walnut Hills
• 2 County Wide
Contracting Needs:
• Electricians
• Plumbers
• Painters
• Concrete flat work

36. FOCUS NEIGHBORHOOD:
Avondale
Avondale became a neighborhood of focus for The Port in 2018
after receiving significant support from Cincinnati Children’s
Hospital Medical Center, the City of Cincinnati and Greater
Cincinnati Neighborhoods Housing Revitalization Loan Fund
(Greater Cincinnati Foundation). The Port has been working in
the neighborhood for many years with the community
development corporation, Avondale Development Corporation,
as well as the neighborhood’s community council, Avondale
Community Council. Our goal, in partnership with CCHMC and
our community partners, is to improve children’s health and
housing in the neighborhood.

37. Infill Housing Development
• Initial phase focuses on six lots on Wilson Street, identified by
Avondale Development Corporation and The Port, and three new
construction homes on Haven.
• 1 historic single-family rehabilitation
• The homes will anchor Rockdale and South Avondale schools and will
bring stability and new life to the areas surrounding the schools.
• Project timeline: Starting January 2019
Project Updates
REACH AVONDALE

38. • Estimated $1.5 million
combined in additional
contracting opportunities
for Evanston and Walnut
Hills through December
2019
• Estimated $4.4 million for
contracting opportunities
in Price Hill through 2020
• Estimated $6.1 million for
contracting opportunities
in Avondale through 2020
What’s Next
REACH 2019

39. How to Apply for Landbank Properties

40. 40

41. The Landbank Disposition Programs
WORK WITH US
LOT-TO-YARD
Owner-occupants
acquire residential
vacant land adjacent to
their home
GARDENS AND
GREENS
Transforms vacant
lots into gardens or
community green
space
SINGLE-FAMILY HOME
DEVELOPMENT
Returns underutilized,
residential properties to
productive use through sale
to interested parties for
redevelopment.
COMMERCIAL
DEVELOPMENT
Projects involving the
development of multiple
units or commercial
developments

42. Contracting
General Contracting and
Subcontracting – Construction
Engineering
Design
Remediation and Abatement
Deconstruction
Demolition
Maintenance/Cleaning
Development
Acquisition and Rehab - 1-4 Units
Acquisition and New Construction
Assemblage
Infill Rehab and Construction
WORK WITH US
Contacts:
Deborah Robb –
Marketing & Sales, General
Residential, HURC
Liz Eddy –
General Residential,
REACH Program
Ron Shouse –
Contractor Pre-Qualification,
NIP

43. Neighborhood
Revitalization: Commercial
THE PORT
Robert Sanders, Director, Commercial Development

44. Focus
Neighborhoods
NEIGHBORHOOD REVITALIZATION
ROSELAWN
BOND HILL
AVONDALE
EVANSTON
WALNUT HILLS
WEST END
PRICE HILL

45. Neighborhood
Business
District Program
Thesis: Place-based redevelopment strategy to rejuvenate
neighborhood retail and commerce with a focus on neighborhood–
serving businesses, local micro-entrepreneurs, and creative enterprises.
Outcomes: Jobs, amenities, street-level vitality, safety, wealth creation
Capital barrier: Not financially feasible given expected rents and
property values and risk profiles of local lenders.
Financing Tools: Revolving Loan Fund; grants for program
development
NEIGHBORHOOD REVITALIZATION

46. DREAM Loan
Fund
Year One Impact

47. Trevarren Flats, Walnut Hills
BEFORE
Photos courtesy: Walnut Hills Redevelopment Authority
AFTER

48. Bond Hill
Business
District
PROJECT UPDATES
• Control of pad ready commercial sites along Reading Rd.
• Goal is to create and establish neighborhood serving,
retail businesses. Important to the community per the BH
& R Plan.
• Renovation of approx. 5,500 sq.ft. of neighborhood
serving retail space with surface parking lot currently
under construction. Estimated completion Q1 2019.

49. Bond Hill
Business
District
PROJECT UPDATES

53. • Neighborhood business
district poised for
redevelopment.
Montgomery and Ruth.
• Working with community
leaders and stakeholders to
develop a neighborhood plan
for the Evanston community.
• Property currently under
MOU with developer to
create opportunities for
neighborhood serving
businesses.
Evanston
Neighborhood
Business
District

55. OPPORTUNITIES
Neighborhood-Serving Businesses
• Retailers – seamstresses, fitness centers, bakeries
• Restauranteurs – cafés, casual dining
• Community Outreach / Arts – children’s theaters, incubators
General/Sub Contractors
• Opportunities to become a vendor/contractor and bid on all upcoming projects.
Developers
• Experienced real estate developers with proven success have opportunities to apply to redevelop any
properties listed on the Landbank website

56. Public Finance
THE PORT
Greg Hahn, Director, Public Finance and Compliance

57. Turner Construction & Jostin Construction
FC Cincinnati Stadium

58. FC Cincinnati
Stadium
• Enter into a lease with FC Cincinnati
• Issue up to $200MM in Lease Revenue Bonds for
stadium construction

59. Springdale
Commerce
Park
• Issue over $7MM in TIF Revenue Bonds to support
redevelopment of a $41MM project
• Two industrial spec buildings totaling 576,800
square feet
STRATEGIC CAPITAL PARTNERS

60. FORMER POGUE’S GARAGE
4TH & RACE

61. Garage:
• Issue up to $30,000,000
development revenue parking
bonds
Future Apartment Involvement:
• Issue TIF bonds
• Structured lease
Port
Involvement
4TH & RACE

62. HISTORIC PROVIDENT BANK BUILDING
7TH & VINE

63. Historic
Renovation
Project Specs:
• Enter into a structured lease
• $38MM Acquisition, renovation, and repurpose
• 160 market rate apartment units
7TH & VINE
Building designed by Cincinnati architect, Harry Hake

64. North American Properties
8TH & MAIN

65. 8th & Main
• Demo existing buildings
• Construction of new 13 story apartment building
• 125 market rate units ranging from 485-1,386 SF

66. Madisonville
Business
District
Project Specs:
• $28.89MM total investment
• 102 apartments – mid and low income
• 18,414 Sq. Ft. of new office / retail space
• 45 new full-time employees

67. Port Role
• Issue $2.795MM SWORBF TIF Bonds
• Enter into a Capital Lease
MADISONVILLE BUSINESS DISTRICT

68. Industrial Revitalization
THE PORT
Julie Banner, PE, Senior Development Associate

69. Hudepohl
Queensgate
Acres:
1.6
Acquisition:
$400,000
City Of Cincinnati Funds:
$2,250,000
US EPA Corrective Action:
$1,500,000
Strategic Partners:
City of Cincinnati, The Port
Scope of Work:
• Total structure demolition
• Asbestos abatement
• Environmental hazard
abatement
• Production well abatement
• Stabilization of masonry walls
• Retaining wall construction
• Grading

70. Industrial
Pre-Qualifications
$500,000 – $1.5 million;
OR
$2 million – $6 million
Contractor must have served as
primary contractor on a minimum
of four (4) complex projects in the
following range:
Contractor has a minimum of 5
years experience in successful
execution of services to be
performed including:
• Demolition
• Site Grading
• Remediation
• Heavy Excavation
• Asbestos Abatement
• Earthwork
• Utility Infrastructure
• Roadway Construction

71. Banking Finance For
Real Estate
THE PORT
Michael Smith, Vice President, Neighborhood Development

72. Financial
Package
• Application
• 3 years of business tax returns for all businesses you own
• 2 years of personal tax returns for all owners greater than
25%
• Interim financials: profit/loss statement and balance sheet
• Purchase contract
• 2-3 years of Schedule E tax form for investment real estate
purchase
• Copies of leases for investment real estate purchase
• Rent roll for multi-family investment real estate
• Plans and specs if construction is needed

73. Financial DNA
Character
The buyer’s reputation
Capacity
Ability to pay back the loan based on current income and capital
Capital
The buyer’s personal investment
Conditions
The state of the current economic environment
Collateral
The evaluation of the land being used to acquire the loan
THE FIVE C’S OF CREDIT

74. Cash on hand & in Banks
Savings Accounts
Real Estate
Mortgages on Real Estate
Unpaid Taxes
Net Worth

75. Stocks & Bonds
Life Insurance Held

76. Underwriting
• Historical cash flow coverage 1.25 proposed/ global
• 80% LTV, purchase price or appraised value (whichever is
the least)
• Credit score 700
• Leverage 4:1

77. Terms
3, 5, 7, 10 year term with 10, 15,
20 year amortization
15 year fixed option (exception)
High Risk
• Gas Stations
• Bowling Alleys
• Drycleaners
Ideal Properties
• Multi-unit (investment real estate)
• Strip centers (investment real
estate)
• Owner occupied

78. Loan
Financing
• Loan Terms (Initial rate locked in for 5 years,
payment spread over 20 years)
• 5 year
• 20 year amortization
• 6% interest
• Payment = $5,732.00 / month for 20 years
$1,000,000
-$200,000
$800,000
Loan
(20% down payment)
Financed Amount

79. SBA Loans
THE PORT
Robert Sanders, Director, Commercial Development

80. Eligible
Businesses
Examples of Eligible Businesses:
• For Profits
• Franchises
• Fitness centers
• Average 2-year net income of $5MM
Examples of Who Does Not Qualify:
• Real Estate Investment Firms – CRE for investment
purposes
• Non-profits
• Gambling establishments

81. SBA 7a & 504
LoansEligible Uses:
• Expand, acquire or start a business
• Purchase or construct real estate
• Refinance existing business debt
• Buy equipment
• Provide working capital
• Construct leasehold improvements
• Purchase inventory

82. Owner Occupancy
Requirements
51% owner occupancy for
existing building
60% owner occupancy for new
construction

83. Why is this
Important?
• 10% Equity Injection
• Opportunity to own leverage rent payments from
potential tenants
• Potential for lower monthly payments
• The Port has commercial estate in inventory

84. One new loan program:
Refinance existing debt
$1.35MM new funds
Zero down
Monthly payments of $17,195
That’s $4,186 less than their monthly debt
payment before expansion.

85. Want to work
with our
Partners?
FC Cincinnati Stadium
TURNER CONSTRUCTION & JOSTIN CONTRUCTION
register with them via:
http://ohio.turnerconstruction.com/fccincinnati
Springdale Commerce Park
STRATEGIC CAPITAL PARTNERS OR HEMMER CONSTRUCTION
Zach Wilson
zwilson@paulhemmer.com
4th & Race Development
3CDC / TURNER CONSTRUCTION
Phil O’Brien
obrien@tcco.com
Provident Building
PEARL COMPANIES / OSWALD CONSTRUCTION
Wayne McMillian
mcmillian@oswaldco.com
8th & Main Development
NORTH AMERICAN PROPERTIES / AL.NEYER
Philip Hausfeld
phausfeld@neyer.com
Madison & Whetsel
THE ACKERMANN GROUP / AL.NEYER
Chris Breda
cbreda@ackermanngroup.com

86. THANK YOU
www.cincinnatiport.org