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 neighborhood. 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.

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. Today those funds total over $250 million and have resulted in over $825 million invested in downtown and Over-the-Rhine real estate projects.