“The $27 million music venue set to go at the Banks has received all of the approvals needed from Cincinnati City Council to make the project a reality,” writes Chris Wetterich in Thursday’s (11/20) Cincinnati Business Courier. “City Council unanimously approved on Wednesday changes to the Banks’ concept plan and a development agreement that will allow for a music venue to be built on the mixed-use riverfront development. On Nov. 14, it approved an ordinance making major changes to the cooperative agreement with Hamilton County dividing up the remaining parcels between the city and county…. Under the agreement: The city accepts the air rights to Lot 27 from the county and then gives those rights to the music venue’s developer, Cincinnati Symphony Orchestra subsidiary Music and Event Management Inc. The city acquires the air rights to Lot 23 from the county for $0 to build the park that will be used at times for outdoor performances with a capacity of up to 8,000…. Council also unanimously approved an ordinance appropriating $1.45 million to build a base park at Lot 23. Music and Event Management Inc. will match the city’s contribution.”
Posted November 27, 2019
