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The legislation would block tax breaks for companies that own 50 or more single-family rental properties.
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Cincinnati City Council approved an ordinance in June that makes it legal to have accessory dwelling units, or ADUs, on properties with a single-family home.
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Registration is free and there are three tracks: one for developers just getting started; one focused on financing; and one for midsize companies looking to scale up.
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The program is capped at $100 million a year for four years, estimated to build about 3,500 total affordable apartments.
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The money comes from the county's portion of federal stimulus and will fund a total of 552 units of new and preserved housing.
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An ordinance legalizing accessory dwelling units, or ADUs, in all residential zoning districts got final approval at City Council Monday.
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Last year the county had four awards, three of them in Cincinnati. And that was already a down year for the city.
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The money is from Hamilton County's portion of American Rescue Plan federal stimulus. Some money is set aside for housing for specific populations like seniors, people with disabilities and people just coming out of incarceration.
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Businesses like Cook Medical in Indiana say the housing shortage makes it harder to recruit and keep middle-income workers. So it's building places for employees to rent or even buy.
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A new type of housing could be popping up in your neighborhood if Cincinnati Council approves an ordinance introduced Thursday.