Cincinnati Center City Development Corporation

Cincinnati Center City Development Corporation (3CDC) is a private, non-profit real-estate development and finance organization focused on strategically revitalizing Cincinnati's downtown urban core in partnership with the City of Cincinnati and the Cincinnati corporate community. Its work is specifically focused on the central business district and in the Over-the-Rhine (OTR) neighborhood. The organization is widely credited with revitalizing OTR, which during the early 2000’s was considered one of the most dangerous neighborhoods in the United States.[2] While the organization began as a full-service real estate developer, it has since branched out and become a significant event programmer in Cincinnati, producing over 1,000 events per year[3] at the four civic spaces it manages: Fountain Square, Washington Park, Ziegler Park and Memorial Hall.

Cincinnati Center City Development Corporation
Non-Profit
Founded2003 in Cincinnati, Ohio
HeadquartersOver-the-Rhine
Key people
  • Stephen G. Leeper (President & CEO)
  • Adam Gelter (Executive VP, Development)
  • Tim Szilasi (Senior VP & CFO)
  • Christy Samad (Senior VP, Event Management)
Revenue
  • US$38,207,083 (2018)
  • US$59,987,941 (2017)
Total assets
  • US$413,225,233 (2018)
  • US$349,748,267 (2017)
Number of employees
291 (2018)
Website3CDC.org
Footnotes / references
[1]

History

In July 2003, 3CDC was formed by former mayor of Cincinnati, Charlie Luken and other corporate community members. This was a result of a recommendation by a City of Cincinnati Economic Development Task Force. Most funds are gathered through corporate contributions. In 2004, 3CDC accepted responsibility for overseeing Cincinnati New Markets Fund and Cincinnati Equity Fund. As of May 2018, those funds total over $250 million and have resulted in over $1.3 billion[4] invested in downtown and Over-the-Rhine real estate projects.

Controversy

Some long-term residents of the Over-the-Rhine neighborhood have voiced concern that 3CDC does not sufficiently attend to the concerns of long-term residents of the neighborhood, which was formerly 80% African-American, and that gentrification caused by 3CDC's development is displacing the existing population and businesses.[2]

On three different occasions, the Cincinnati Board of Housing Appeals has accused 3CDC of "demolition by neglect" (a first-degree misdemeanor in Cincinnati) by allowing vacant buildings to be neglected until they require emergency demolition.[5]

Projects
gollark: Yes. However, having a language which actually ALLOWS YOU TO WRITE THAT as a generalized thing would be better without compromising elegance with weird special cases like Go also does.
gollark: Parallel iterators would make that code clearer, actually simpler (not Go-"simpler") and less error-prone.
gollark: I don't think the way Go encourages you to write code is very good.
gollark: I had a bug because I didn't put in the `src := source` line and something something closure. I probably could have accidentally messed up the waitgroup.
gollark: Or, well, is moderately complex but can be abstracted.

References
  1. Tigas, Mike; Wei, Sisi; Schwencke, Ken; Roberts, Brandon; Glassford, Alec. "CINCINNATI CENTER CITY DEVELOPMENT CORPORATION - Form 990 for period ending Dec 2018 - Nonprofit Explorer". ProPublica. Retrieved 4 May 2020.
  2. Woodard, Colin. "How Cincinnati Salvaged the Nation's Most Dangerous Neighborhood". POLITICO Magazine. Retrieved 2019-01-01.
  3. "How 3CDC built a local events empire". Cincinnati.com. Retrieved 2019-01-01.
  4. "3CDC shifting its mission in downtown Cincinnati (Video)". Cincinnati Business Courier. 18 May 2018. Retrieved 4 May 2020.
  5. May, Lucy (14 May 2013). "Cincinnati's 3CDC charged with 'demolition by neglect' in historic Over-the-Rhine". WCPO Cincinnati. Retrieved 14 April 2015.
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