3CDC
{{Short description|Non-profit real-estate development and finance organization}}
{{Infobox company
| logo = 3CDC wordmark vert.svg
| logo_size =
| name = Cincinnati Center City Development Corporation
| assets = {{Unbulleted list|class=nowrap|{{Increase}} US$413,225,233 (2018)|US$349,748,267 (2017)}}
| num_employees = 291
| num_employees_year = 2018
| parent =
| type = Non-profit
| slogan =
| foundation = 2003 in Cincinnati, Ohio
| founder =
| location = Over-the-Rhine
| key_people = {{Unbulleted list|Stephen G. Leeper (President & CEO)|Adam Gelter (Executive VP, Development)|Tim Szilasi (Senior VP & CFO)|Christy Samad (Senior VP, Event Management)}}
| revenue = {{Unbulleted list|class=nowrap|{{Decrease}} US$38,207,083 (2018)|US$59,987,941 (2017)}}
| footnotes = {{Cite web
| title = CINCINNATI CENTER CITY DEVELOPMENT CORPORATION – Form 990 for period ending Dec 2018 – Nonprofit Explorer
| last1 = Tigas | first1 = Mike
| last2 = Wei | first2 = Sisi
| last3 = Schwencke | first3 = Ken
| last4 = Roberts | first4 = Brandon
| last5 = Glassford | first5 = Alec
| work = ProPublica
| date =
| access-date = 4 May 2020
| url = https://projects.propublica.org/nonprofits/display_990/200446324/01_2020_prefixes_14-20%2F200446324_201812_990_2020011017013056
| quote =
}}
| homepage = [http://www.3CDC.org 3CDC.org]
}}
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 (OTR) neighborhood. The organization played the key role in revitalizing OTR, which during the early 2000s was considered one of the most dangerous neighborhoods in the United States.{{Cite web|url=https://www.politico.com/magazine/story/2016/06/what-works-cincinnati-ohio-over-the-rhine-crime-neighborhood-turnaround-city-urban-revitalization-213969|title=How Cincinnati Salvaged the Nation's Most Dangerous Neighborhood|last=Woodard|first=Colin|website=POLITICO Magazine|language=en|access-date=2019-01-01}} While the organization began as a full-service real estate developer, it has since branched out and become a significant event programmer in Cincinnati, producing over 1,000 events per year{{Cite web|url=https://www.cincinnati.com/story/news/2017/02/09/3cdc-really-wants-you-have-fun-downtown/97280348/|title=How 3CDC built a local events empire|website=Cincinnati.com|language=en|access-date=2019-01-01}} at the four civic spaces it manages: Fountain Square, Washington Park, Ziegler Park and Memorial Hall.
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. As of May 2018, those funds total over $250 million and have resulted in over $1.3 billion{{Cite web
| title = 3CDC shifting its mission in downtown Cincinnati (Video)
| author =
| work = Cincinnati Business Courier
| date = 18 May 2018
| access-date = 4 May 2020
| url = https://www.bizjournals.com/cincinnati/news/2018/05/18/3cdc-shifting-its-mission-in-downtown-cincinnati.html
| quote =
}} invested in downtown and Over-the-Rhine real estate projects.
Controversy
Some long-term residents of the Over-the-Rhine neighborhood have voiced concern that 3CDC does not sufficiently attend to the concerns of long-term residents of the neighborhood, which was formerly 80% African-American, and that gentrification caused by 3CDC's development is displacing the existing population and businesses.
On three 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.{{cite news|last1=May|first1=Lucy|title=Cincinnati's 3CDC charged with 'demolition by neglect' in historic Over-the-Rhine|url=http://www.wcpo.com/money/local-business-news/cincinnatis-3cdc-charged-with-demolition-by-neglect-in-historic-over-the-rhine|accessdate=14 April 2015|agency=WCPO Cincinnati|date=14 May 2013}}{{Cite web|last=|first=|date=2013-05-14|title=3CDC faces neglect accusations|url=https://www.bizjournals.com/cincinnati/morning_call/2013/05/3cdc-faces-neglect-accusations.html|url-status=live|archive-url=https://web.archive.org/web/20200929161859/https://www.bizjournals.com/cincinnati/morning_call/2013/05/3cdc-faces-neglect-accusations.html|archive-date=2020-09-29|access-date=2020-09-29|website=Cincinnati Business Courier|language=en-us}}
Projects
- Fountain Square plaza and garage: October 2005 – October 2006
- Washington Park: August 2010 – February 2011
- Vine Street streetscape project: Summer 2009 – present
- Over-the-Rhine: ongoing project redeveloping streets starting with Vine Street and Central Parkway
References
{{Reflist}}
External links
- {{Official website|http://www.3cdc.org/}}
{{Authority control}}
Category:Organizations based in Cincinnati
Category:Non-profit corporations