Mahogany's at the Banks (Cincinnati, Empire: lease, restaurant, move)

[unusualfire]

You know what im talking about. Backlash, anger, racial tone or what have you.

[TomJones123]

Originally Posted by unusualfire

You know what im talking about. Backlash, anger, racial tone or what have you.

I dunno about people's intent (whether backlash, anger, etc.) but the standards for loaning money / receiving a grant should not be ambiguous or opaque.

[unusualfire]

Tom how do you expect the Union Terminal to get paid for? Music hall? It's free money to those entities.

[TomJones123]

Originally Posted by unusualfire

Tom how do you expect the Union Terminal to get paid for? Music hall? It's free money to those entities.

Ya, that's related but another can of worms to me. And what is the difference in their corporate structures vs. a private business that's apparently a sole proprietorship?

[Sarah Perry]

Originally Posted by TomJones123

I dunno about people's intent (whether backlash, anger, etc.) but the standards for loaning money / receiving a grant should not be ambiguous or opaque.

And they ought to be applied with some degree of equality. Remember that woman who just a couple months ago asked for city help for HER soul food restaurant in Bond Hill? The city turned her down flat and told her it's not in the business of bailing out private businesses.

[TomJones123]

At least not bailing out businesses in Bond Hill.

[Vintrest]

Originally Posted by TomJones123

At least not bailing out businesses in Bond Hill.

That's it...the location thing. I think the Mahagony Restaurant idea is to cater mainly to visitors attracted to The Banks and downtown to offer them an alternative dining experience. Restaurants are opening at the rate of almost one per week in the OTR (Bakersfield, The Anchor, immediately come to mind) and in The Banks development, theme restaurants are already widespread. Like it or not, with the casino, the riverside redevelopment and the new streetcar project, Cincinnati is positioning itself to become a major future tourist town. Add to that the history and great period architecture around town, and it may just be a formula for success. The argument about subsidies is certainly valid but just looking at all of the mulititude of projects underway or in the planning stage, (taxpayer funded) grants, tax credits, and favorable loan terms are all part of the picture. These kinds of development incentives are not unique to Cincinnati nor are special zonings like T.I.F. districts. Every larger American city works hard to bring in new investment and development these days and a city that doesn't gets passed over for one that does.

[Sarah Perry]

Originally Posted by Vintrest

That's it...the location thing. I think the Mahagony Restaurant idea is to cater mainly to visitors attracted to The Banks and downtown to offer them an alternative dining experience. Restaurants are opening at the rate of almost one per week in the OTR (Bakersfield, The Anchor, immediately come to mind) and in The Banks development, theme restaurants are already widespread. Like it or not, with the casino, the riverside redevelopment and the new streetcar project, Cincinnati is positioning itself to become a major future tourist town. Add to that the history and great period architecture around town, and it may just be a formula for success. The argument about subsidies is certainly valid but just looking at all of the mulititude of projects underway or in the planning stage, (taxpayer funded) grants, tax credits, and favorable loan terms are all part of the picture. These kinds of development incentives are not unique to Cincinnati nor are special zonings like T.I.F. districts. Every larger American city works hard to bring in new investment and development these days and a city that doesn't gets passed over for one that does.

I totally agree with you about the tax incentives, loans, etc. I absolutely do NOT agree with handing this particular business a nearly $700K grant. And it looks like there may even be a slim chance it will not happen. I emailed all the council members yesterday and true to form in citizens responsiveness didn't hear back from any of them except a Qualls staffer. He said the grant is going to get a "lot more scrutiny." I hope he's telling the truth.

[Vintrest]

Originally Posted by Sarah Perry

I totally agree with you about the tax incentives, loans, etc. I absolutely do NOT agree with handing this particular business a nearly $700K grant. And it looks like there may even be a slim chance it will not happen. I emailed all the council members yesterday and true to form in citizens responsiveness didn't hear back from any of them except a Qualls staffer. He said the grant is going to get a "lot more scrutiny." I hope he's telling the truth.

Often the whole picture is more complicated than what appears at first glance. It would be interesting to learn the rationale used to justify this grant. (while turning down a similar grant request in Bond Hill) Otherwise, I agree that if nothing else, it sets up a bad precedent. Outright grants should be rare and very carefully evaluated; they should not become just another business perk for anyone who asks for them.

[kjbrill]

Originally Posted by Sarah Perry

I totally agree with you about the tax incentives, loans, etc. I absolutely do NOT agree with handing this particular business a nearly $700K grant. And it looks like there may even be a slim chance it will not happen. I emailed all the council members yesterday and true to form in citizens responsiveness didn't hear back from any of them except a Qualls staffer. He said the grant is going to get a "lot more scrutiny." I hope he's telling the truth.

And I totally agree with what you said. We have several posters exclaiming how fabuously successful the Banks is. As that is the case, why is the City giving a business a nearly $700K grant to locate there? Seems to me they should be collecting a fee.

Once the casino gets rolling it should make even less sense.

However, the owners of the Lebanon Raceway, a quite old trotting track, are looking at building a new track at Ohio-63 and I-75 based on the ability to have video slots at the facility. Another company is looking at opening the same type of new facility less than 30 miles away in Dayton by moving the license of a closed track in Toledo - same plan based on video slots generating the income. Seems to me there is only so much gambling money to go around and things are becoming very diluted.

I view the downtown restaurant and bar scene as being the same - only so much money to go around. Not everyone is going to make the grade.