CNNMoney.com did a study to find the cities where home prices are likely to rise the most - or fall the least - over the next 12 months. The top six cities were: Atlanta, Boston, CINCINNATI, Cleveland, Detroit, and Houston.

The article states that the reason Cincinnati appears on this list is a result of the city’s manufacturing-heavy economy which should benefit from the falling dollar. Commercial building is up, and high-end developments are moving in. Some of these developments include The Banks Project, The Gateway Quarter, and other 3CDC downtown projects are contributing to the local economy. Other notable development in the suburbs include Kenwood Towne Place, Nordstrom that is being constructed at the Kenwood Towne Centre, and the recent addition of IKEA in West Chester.

If you live in the city of Cincinnati and are considering renovating your home there is good news for you. The City of Cincinnati Department of Community Development has implemented both a residential and commercial tax abatement program to help attract new residents, businesses, and investors and encourage current residents, businesses, investors to improve their current properties. Any property owner may be eligible for this property tax abatement if they purchase a newly constructed home or are renovating their current home. Residential is defined as a single family home or any building with 1-3 units. With this tax abatement program, the commercial category is defined as residential multi-family property containing more than 4 units, office, retail, industrial, or mixed use.

Who Qualifies for the Residential Tax Abatement?

The way this program works is that certain types of improvements that actually add value to the home will qualify, while others will not. Part of the application process helps to determine if the improvements that you are making to the home are simply improving the condition of the home versus actually adding value. Painting your home, replacing your roof, new siding, new windows, new gutters, improved landscaping, a retaining wall, or resealing a driveway will all improve the condition and salability of your home but do not add dollar value. While adding a pool, deck, patio, or more usable square footage or living space to the home will add dollar value to your property and will qualify for the tax abatement. LEED- certified remodeled or newly constructed residential property is eligible for an additional tax exemption based on the certification level. Please click here for more information on LEED homes. The period for tax abatement begins with the date of documented completion of work.

Tax Abatement Limits

For example, if the owner of a $75,000 home makes $25,000 in improvements, the owner is only responsible for taxes based on the home’s original value for a period of ten years. So that would mean that the property owner’s taxes would remain at the assessed value of the $75,000 price but the house would actually be worth $100,000 if the owner were to have the home re-appraised. The portion of the tax by which the remodeling increased the value of the structure may be abated up to a maximum $275,000 market value.

Total Investment Eligible for Exemption (fair market value): $275,000
Assessed Value/Taxable Value is 35% of fair market value: $96,250
Assessed Value Multiplied by Tax Rate (.05694): $5,480.48
10% Rollback: $548.05
Estimated tax abated for one year: $4,932.43

For an application for the Residential CRA Tax Abatement Program, please click here.

The Cincinnati Public Library Downtown Main Library location has recently undergone a major renovation. The library is continually trying to meet the advancing technological and research needs of the public in all age groups. Under the new plan, resources previously divided among five Main Library subject departments were drawn together into the Information and Reference Department. The Popular Library was created by merging the Fiction and Films and Recordings Departments and the Atrium Collection.

An area that was greatly enhanced was the Teen and Student Department. Parents will be happy to know that there is now a program called “Homework Central” which supports the educational needs of Hamilton County primary and secondary students by providing homework assistance in person, by telephone, and via the Internet. There is also an area called “TeenSpot” which features a high-interest collection of teen print and audiovisual material, the latest technology, and an inviting and comfortably furnished floor plan that supports a wide variety of group and independent activities.

The other two areas that were improved with this renovation are the research level resources and services in local history and culture, river history, African American history, and genealogy are provided by the Genealogy and Local History Department, as well as the TechCenter which offers access to a broad spectrum of technological applications.

Last night we went to the Cincinnati Blackfinn for dinner with another couple for the soft opening. Across the street from the URS Tower and in the space McFaddens used to occupy BlackFinn has an updated menu with a few more sophisticated choices and some old favorites. We had the opportunity to try a sampling and were reasonably impressed.

Our table dined on some beer steamed mussels and Ahi tuna for starters. You could really smell the beer in the mussels and the tuna was seared just right with a sweet glaze drizzled on top. I enjoyed my penne primavera and my husband thought the Ahi sandwich was great. Our friends enjoyed the BlackFinn grilled chicken and rice dinner and buffalo chicken sandwich.

The desserts were equally as good. The ice cream cake was easily large enough for two and our friends spoke highly of the apple pie. There was a glass of Guinness inspired chocolate mousse that we missed out on but it looked amazing.

We are running a small contest here for free passes to the BlackFinn grand opening Party Thursday night March 13th. The first people to track back and comment will get up to 4 VIP tickets to the event.

Want to test your endurance? Sunday, February 24^th is the annual Climb the Carew Tower event to raise money for the American Lung Association for details please click here. Climb the tallest building in Cincinnati a whopping 45 floor climb.

Events with Approximate Start Times:

10:00 am-10:30 am Competitor-Climb up the tower as fast as you can while racing others

10:30 am-11:00 am Superclimb- Race up the tower, back down, and back up again

11:30 am -1:30 pm Casual Climb- Take your time and have fun

1:30 pm- 2:00 pm Half Climb- Climb up to floor 21, a good race for kids

The fees for this race are $50 registration and a $75 pledge minimum totaling ($125) all for a great cause. Have fun!

Although it is a cold
and snowy mid-February day, there is plenty to do in the Greater Cincinnati
Area. This community is very spirited about holidays and Valentine’s Day will
be great in Cincinnati
regardless of your relationship status or what you like to do. Some communities
are having daytime events targeted to families with children while others are
focused more on couples and singles who would prefer to celebrate in the
evening. Please read below for the ways that different communities in the city
are celebrating.

Many of the
neighborhoods hosting events can be found here.

The Downtown
Gift Card, a multi merchant prepaid credit card valid at more
than 120 participating downtown merchants. The Downtown Gift Card is available
in any denomination up to a $500 value at the Downtown Cincinnati Inc Website.
Downtown also has a few events to offer for the eve of Valentine’s Day Havana Martini, Boi Na Braza, Jeff Ruby’s, Lodge Bar, The Ensemble
Theater has a special production as well. The other options
available downtown are the Fountain Square Ice Skating Rink, a Carriage ride
through downtown.

Newport on the Levee’s merchants have all
teamed up and have plenty of Valentine’s
Day packages for those of you looking to spend your evening in
Kentucky.

Mt Lookout will be having events at Million’s Cafe as well as local
restaurants will sure to be booked up. Some of those restaurants are Nectar
and Betta’s Italian Cuisine.

3CDC continues to work on improving the greater areas of Over The Rhine and Downtown Cincinnati. Projects are being initiated at a rapid pace, even as recent as Friday the 8th. Phase III of the Gateway Quarters project began with the demolition of an nondescript building to make way for store front retail and mixed housing that will serve the existing and future residents.

More important than building structures, the project is making the downtown area more attractive to new residents, and new businesses. Part of the economic redevelopment certainly depends on the having space for new potential employees to live. Part of the philosophical foundation for inner city redevelopment is based in the ideas of Richard Florida;s book Rise of the Creative Class. In short it says that if you have interesting, diverse living spaces, in an area surrounded with cultural activities you will attract the kind of talent that is important for luring in new businesses. People first, then industry … not the other way around.

Downtown Cincinnati has once again come alive. With plenty of new restaurants opening up and a thriving nightlife, it has once again become a thriving place to be. In the past year, we have seen new restaurants open on or near fountain square such as Boi Na Braza (Brazilian Food), Nada (Contemporary Mexican Food), and Vie Vite (Italian). Mortons reopened in the Carew Tower and Fountain Square welcomed their new tenants Greaters Famous Ice Cream and Potbelly Sandwich Shop. The nightlife has revived with The Lodge Bar on 7th Street, Havana Martini, Sully’s reopening, and Cadillac Ranch the Country Bar with a mechanical bull for endless entertainment. Although McFaddens closed there will be a new restaurant/bar opening soon in the same location.

Since a lot of the 20, 30, and 40 somethings that are re-locating to Cincinnati from larger cities like I did such as Atlanta, Chicago, New York, Los Angeles, Miami one of the concerns about moving to Cincinnati is losing the culture and excitement of living in a large city which includes the fine dining that is available there. The restaurants listed above as well as Jeff Ruby’s (steakhouse), McCormick and Schmicks (steak and seafood), Palomino (American), Pigall’s (French),Oceanaire (a new seafood restaurant opening soon), and Nicholsons (Irish pub food) are only adding to the excitement of the new downtown. These are all trendy restaurants that have excellent food and service and have a contemporary decor and ambiance that was not found in Cincinnati a few years ago. Many of these restaurants have hip bar areas where guests can enjoy happy hour as well.

Fountain Square has been reconfigured and currently has an ice skating rink with rental equipment available for visitors to enjoy. There were many events over the holidays and as the weather warms up the lunchtime events during the week will return. All Cincinnati residents should come see for themselves the changes that have occurred and support the businesses who have taken the leap of faith that things have changed and will continue to improve.

Downtown has returned as the hot place to be. You should feel safe coming downtown to work, eat, and party! Crime rates have decreased in the double digit percentages over the past 7 years and the crowds have returned. I look forward to enjoying the places that are there now and to see the new restaurants and bars that will open soon. You will not be disappointed!

The Cincinnati Art Museum hosts One World Wednesdays (OWW). This event is a cocktail hour that takes place on the first Wednesday of the month and features a different world culture through art, music, and wine. This event is free to members of the art museum and costs non-members only $8. OWW is one of the many multicultural and worldly events that Cincinnati has to offer its residents and visitors. This event attracts community groups and individuals alike to celebrate some of the cultures that live together in Cincinnati, as well as provide a social setting for its participants to network with other professionals. The next OWW is scheduled for February 6th and will highlight Japan.

Team Lachey hot off of their win on the NBC Clash of the Choirs competition is performing tonight, New Year’s Eve on Fountain Square downtown. As part of Nick continuing to give back to his hometown community those who brave the seasonably cold weather will be no doubt treated to some amazing choral arrangements. The $250,000 prize money from the Clash competition is going to support Cincinnati Children’s Hospital in Clifton and is sure to bring much needed support to the nationally recognized pediatric center. If you are going downtown tonight pack warm and dry as the weather will be in the high 30’s with a few possible light showers.