On August 5, Cincinnati City Council will consider an ordinance creating a capital improvement program project account for expansion of the , a move that will accommodate an influx of Procter & Gamble's employees to its Downtown headquarters.
The new capital account, which would be funded with an $110,000 surplus from Parking Facilities Fund 102, would be used to pay for the construction of three additional parking decks.
In June, Procter & Gamble announced that it would not renew its lease at its Governor's Hill facility in Symmes Township and would transfer those 650 support services employees Downtown in early 2010, bringing the number of employees at its Downtown campus to nearly 4,750.
The additional employees are expected to add about $30 million in annual payroll, resulting in nearly $630,000 in annual tax revenue for the City.
If the ordinance is passed, construction could begin this October.
Monday, August 3, 2009
Downtown garage expansion could begin this October
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2 comments:
I remember when they built this garage they bragged how they would build an office building on top of it someday. An extra three levels of parking instead = FAIL.
Even with the three stories of parking, the garage is overbuilt to handle an additional 6-9 levels on top, which will indeed be commercial or residential in use. I would say adding the parking to allow 650 new jobs to relocate into the city and generate revenue is not a failure at all.
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