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State housing credits pave way for $12.4M renovation of historic Anna Louise Inn

For 101 years, the Anna Louise Inn has provided safe, affordable housing for women in downtown Cincinnati.  In need of renovation work and various upgrades, Cincinnati Union Bethel and Over-the-Rhine Community Housing have successfully landed $10 million worth of housing credits.The tax credits come from the Ohio Housing Finance Agency, and will be worth $1 million annually over the next ten years.  Project officials say that this large tax credit will allow renovation work to begin on the historic structure in June 2011."A project like this is a real boost to businesses and the economy because it will produce jobs," said project manager Mary Carol Melton.  "We're working now to secure the final funding through a variety of sources, but we're excited to now be able to improve and enhance the quality of life for women looking to find safe and affordable housing." When the Charles Taft family originally built and donated the structure, their intent was to provide housing to the many women coming to downtown Cincinnati for work from rural areas.  And while times have changed, Melton says that the mission and need for such housing has not. Part of the changing population includes changing needs at the historic Anna Louise Inn.  The $12.4 million renovation project will allow for bathrooms and kitchens to be added to 85 units.  The addition though, means expanded living areas for residents, and thus fewer total units."There will be a slight decrease in the number of units due to the upgrades, but our goal is to preserve the safe and affordable housing needed for women today," Melton explained.  "We're going to work with residents during the renovation to make this as least disruptive as possible, and we are currently looking at a phased renovation process to be able to do just that."Project officials expect that even with any phased renovation approach, the project should be complete in around fall 2012.  The end result will be a modernized Anna Louise Inn that has 152-person capacity with larger rooms that include private bathrooms and kitchens in a great location."The amenities of being in downtown Cincinnati are great.  Our residents benefit from great access to transportation, employment, and they also enjoy using Lytle Park located right outside.  It's really nice for our residents to be able to take advantage of all these amenties provided downtown." Writer: Randy A. Simes Photography by Scott Beseler Stay connected by following Randy on Twitter @UrbanCincy

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Somaxon, P&G co-promote insomnia drug

Somaxon Pharmaceuticals Inc. and Procter & Gamble have partnered to co-promote Silenor, an insomnia treatment, to doctors and pharmacies. P&G will place 215 sales representatives in the U.S. to target primary-care doctors and high-prescribing physicians. This renewable deal lasts until 2012 and allows P&G to develop and market Silenor as an over-the-counter medication.Read the full story here.

Duke names six Cincinnati locales for site-readiness program

Duke Energy's Site Readiness Pilot Program selected six Greater Cincinnati locations to develop new sites and bring new companies to the counties the utility serves. Duke will invest $20,000 per site for evaluation by a South Carolina consultant and counties will be offered a $5,000 matching grant to improve their sites.Read the full story here.

Chad Ochocinco to come out with cereal

Cincinnati Bengal Chad Ochocinco recently launched his own cereal known as "Ochocinco's" containing low-fat toasted honey nut oats. The cereal will come in a limited edition collector's box and will be sold in local Kroger stores and online. The proceeds will go to the charity, Feed the Children.Read the full story here.

Check In and Unlock Cincinnati

Foursquare, the location-based mobile application, is growing in usage and leverage in Cincinnati. As more businesses offer deals when users check in, the city is being unlocked as badges are claimed and specials are awarded. Frequent customers are enjoying the rewards, friends are sharing spots and becoming new customers and Mark Mallory is no longer the only mayor in town.

Purchase World Equestrian Game Tickets Through The Northern Kentucky Chamber

Interested in attending the World Equestrian Games? Contact your Chamber of Commerce, pick up some tickets, and enjoy the AllTech FEI World Equestrian Games.

A Horse Is A Horse, Of Course… But In Northern Kentucky It’s A Full Fledged Industry

From the family-friendly pony to the 4-H Club project to the thrilling thoroughbred, horses are part of life in Kentucky. And it's no small part of life either. The horse industry, according to The Kentucky Equine Education Project, is responsible for 80,000-100,000 jobs in Kentucky and brings in about $4 billion in economic impact.

How Do You Fly A Horse?

In a few weeks, more than 500 of the world's top athletes will be flying into the Cincinnati/Northern Kentucky International Airport. During their international flight, they'll travel in first class, business and coach accommodations. They'll be served an in-flight meal and drink service will be generous. The only thing is, they'll have to stand for the entire nine-hour flight. It's okay, though. They're used to it, being horses and all.

Video Kentucky is Ready for the Alltech FEI World Equestrian Games

The World Equestrian Games are coming to Kentucky this year. That means more than 500 horses will be passing through Kentucky, with a great number of them coming through Northern Kentucky's own CVG. And it seems as if the state is ready for the horseplay, so to speak.

Cincinnati Development Fund wins $750k grant from Treasury Department

The Cincinnati Development Fund (CDF) was awarded a $750,000 grant from the U.S. Treasury Department's Community Development Financial Institutions (CDFI) grant program last week.Officials with CDF say that the organization applied for $2 million, but received the maximum amount awarded to any one organization that received funding.The money comes at an important time for the organization as it works to provide loan capital for real estate development projects that are currently under-served by traditional lenders.  To make projects more appealing, CDF injects loan capital to help diversify the investment, thus reducing a traditional lender's risk."This will provide much needed loan capital for our projects in an environment that has not been good," said Joseph Huber, Chief Operating Officer, Cincinnati Development Fund.  "This helps tremendously at providing the loan capital we need to support our loan funds."Cincinnati Development Fund officials say that the money will not go to support operating costs for the non-profit, but instead will go completely into the organization's loan fund.Presently, CDF is trying to build the next loan fund to $15 million with the help of grants, tax credits, and other partners.  So far CDF has raised close to $5 million of that total, but officials expect that gap to close quickly once commitments are reached with financial institutions.  The next three year loan pool will begin September 2010, and is expected to include a number of new financial institutions including Cheviot Savings Bank.Huber notes that the money has not been earmarked for any particular project, but could go to support any number of projects occurring within the Cincinnati Metropolitan Statistical Area (MSA) which includes parts of southwest Ohio, northern Kentucky, and southeast Indiana."CDF has a great history, and there is a real challenge when it comes to quality affordable housing," said U.S. Representative Steve Driehaus (D-OH).  "There tends to be housing available, but it has often been neglected.  Organizations like CDF help to provide the needed quality affordable housing, and the gap financing they provide is really key to the process."Recent projects benefited by the Cincinnati Development Fund include City West in the West End, Schoolhouse Lofts in Walnut Hills, and the Dandridge Studio Townhomes in Pendleton.Writer: Randy A. SimesPhotography by Scott BeselerStay connected by following Randy on Twitter @UrbanCincy

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