GLENDALE, OH (FOX19) – The Village Council is now working on balancing the Glendale operating budget for 2013 and beyond.

Administrator Loretta Rokey says 2012 Village revenues are down about $220,000 from 2011.  She says the major causes are property devaluations and loss of state and miscellaneous revenues.  The shortfall may not sound huge compared to some other cities and townships, but Glendale only has about 2100 works out to about $102 per person.  Because of property reassessments, in 2012 the Glendale component of the average property tax bill to residents decreased by about $160/yr.

CINCINNATI (FOX19) - State Representative Alicia Reece (D-Cincinnati) announced Friday that over $1 million in tax credits has been approved for the rehabilitation of the historic Haddon Hall building in Avondale. The rehabilitation of the century old building will cost roughly $12 million and provide for several onsite jobs.

Originally erected in 1910, Haddon Hall was converted to affordable housing in 1982.  The Reading Road building  is nearly 130,000 square foot in size and houses senior and disabled residents in 114 apartments.  Slated to begin early this year, the rehabilitation project by Ohio owners Wallick-Hendy Development Company aims to upgrade building systems to improve resident amenities and increase the energy efficiency of the aging building.  Renovation efforts should be completed by the fall of 2014.

CINCINNATI (FOX19) - The Ohio Housing Finance Agency (OHFA) Board on December 21 authorized the issuance of up to $8.5 million in Multifamily Bonds for housing construction and rehab in Cincinnati's Avondale neighborhood and in Washington Court House, along with funds from another program in three other Ohio cities. Multifamily Housing Bonds are tax-exempt revenue bonds designed to lower the costs of borrowing for housing developers. The program provides financial assistance for the development and rehabilitation of affordable housing. 

The projects approved by the Board include: 

* Alston Park in Avondale, Hamilton County - $4,500,000 in Multifamily Bonds

Alston Park involves the acquisition and substantial rehabilitation of a residential rental facility for families located in Avondale, Hamilton County.