Cincinnati to boost green building incentives
Cincinnati is poised to offer some of the most generous green building incentives in the country.
The city of Cincinnati will announce proposed amendments to its tax abatement program for buildings built in adherence to Leadership in Energy and Environmental Design, or LEED, standards. Sponsors of the changes say the amendments will further incentivize developers to reach for higher LEED certifications.
“I think this change by the city will convince people to invest a little more upfront to get to a higher LEED level,” Marc Hueber, president of John Hueber Homes, which has built 22 LEED-certified homes in Cincinnati, said in a news release.
First approved in 2009, Cincinnati’s incentives offer a 15-year, 100 percent tax abatement valued up to $562,792 on new residential construction; and a 10-year tax abatement on improvements up to a maximum of $562,792 market value, and are considered to be among the most generous in the United States.
One of the constant criticisms, however, of LEED incentives is that builders go after low-hanging fruit and end up more often than not developing properties at lower LEED levels. Cincinnati’s present incentives do work to combat that by removing the value limit for new and rehabilitated residential structures that achieve LEED Platinum certification.
“My family invested in building a LEED Gold home in Cincinnati in 2011, so I’m aware of how tweaking our LEED program will benefit consumers and our entire community,” said Councilwoman Laure Quinlivan, who sponsored the changes.
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