GREAT CITIES DO NOT HAPPEN OVERNIGHT
CREATING PLACE AND PROSPERITY REQUIRES PATIENCE
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Cincinnati’s downtown shut down at 5 p.m. while everyone scrambled home to the suburbs.
The 3CDC
started programming lunch events, live music on Fridays and Saturdays, Salsa
nights, Reggae nights — events to activate Fountain Square and other civic
spaces.
Fountain
Square underwent a $48-million renovation, funded by New Market Tax Credits,
city funds, philanthropic support and Tax Increment Financing.
In
Over-the-Rhine, the corporate community created an equity fund. One of the key
tools is a revolving loan fund.
It allowed
3CDC to invest money into areas and buildings that were deemed too risky for
conventional investors.
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