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Duke Energy : awards more than $300,000 to 10 urban redevelopment projects in Greater Cincinnati

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10/05/2017 | 08:58pm CEST

CINCINNATI, Oct. 5, 2017 /PRNewswire/ -- Greater Cincinnati's urban cores - and the lives of their residents - will continue to improve and benefit from transformational redevelopment projects thanks to Duke Energy's Urban Revitalization grants. Earlier today, the company announced 10 projects that will receive $307,352 in catalyst grants to support urban redevelopment and stimulate growth, job creation and further investments in our local communities.

"Our urban cores are the hearts of our communities," said Jim Henning, president of Duke Energy Ohio/Kentucky. "Today, they present opportunities for positive change and prosperity. These important collaborations will create jobs, spur additional commercial activity, and serve as hubs for these communities and their residents for generations to come."

Since 2011, Duke Energy has provided $1.88 million in Urban Revitalization funding to 58 projects in Southwest Ohio and Northern Kentucky. Projects include Braxton Brewing Company, Madcap Puppet Theater, Carabello Coffee, Cincinnati State's Middletown campus and Gateway Community & Technical College's Urban Metro campus. Read more about how past Urban Revitalization grants have spurred economic development in Greater Cincinnati.

Today's grant announcement was held at Hotel Covington, which received an Urban Revitalization grant in 2013. The event featured each grant recipient, as well as Cincinnati Mayor John Cranley, Covington Mayor Joe Meyer, Hotel Covington developer Guy van Rooyen, Jim Henning and Duke Energy Executive Vice President Julie Janson. Janson previously served as president of Duke Energy Ohio/Kentucky from 2008 to 2012.

Here are summaries of the projects that were awarded grants today.


    --  Community Improvement Corporation of Silverton$35,000 for Silverton
        Brewing CompanyThe Community Improvement Corporation of Silverton's
        grant will actually facilitate two redevelopment projects along
        Montgomery and Plainfield roads in the village's central business
        district. First, it will help the Silverton Brewing Company repurpose
        the historic Silverton Memorial Municipal Building into a craft brewery,
        restaurant and taproom. Second, the grant will contribute toward the
        Village of Silverton's plans to repurpose a former funeral home into a
        new village administration building.

    --  Downtown Middletown Inc.$15,400 for Snider BuildingDowntown Middletown's
        Snider Building - also known as the Sunshine Building - is a critical
        component of the rebirth of the city's urban core. Once renovated, the
        building will house a microbrewery and taproom, anchor the
        revitalization of the downtown business district and lead to more than
        40 new jobs. Also, the microbrewery will give students in Cincinnati
        State's new brewery program critical hands-on experience.

    --  Downtown Middletown Inc.$18,700 for Manchester BuildingThe reincarnation
        of the Manchester Hotel in downtown Middletown will serve as an anchor
        and catalyst in the redevelopment of the city's urban core. The 70-room,
        full-service boutique hotel and conference center will lead to 70 new
        jobs. The hotel will also partner with Cincinnati State so students
        studying culinary arts and hospitality will be able to get hands-on
        experience unavailable at any other college in the area.

    --  Hamilton County Development Corp.$20,000 for small business coaching in
        ReadingHamilton County Development Corp. will match business experts
        with local business owners for one-on-one coaching. The goal is to help
        businesses refine their business plans, sharpen marketing, improve
        operations and grow. Reading is home to one of the largest wedding
        districts in the United States, hosting 54 wedding merchants serving a
        full range of bridal needs.

    --  Keep Cincinnati Beautiful$30,000 for community resources to revamp
        vacant lotsVacant lots are at the forefront of the discussion on
        development and will continue to play a vital role in the long-term
        vision and planning of Cincinnati's communities. Keep Cincinnati
        Beautiful will use its grant money to create the Duke Energy Learning
        Lot (DELL) program, which will be a comprehensive community-based
        workshop series and toolkit designed to help neighborhoods strategically
        restore and enhance vacant lots into socially, culturally and
        environmentally responsible assets. Keep Cincinnati Beautiful will also
        engage local schools to get students outside, learning about
        environmental issues and STEM-related studies on green infrastructure -
        exposing students to issues surrounding the environment through
        curriculum-based environmental classroom education, field trips and
        service learning projects.

    --  Walnut Hills Redevelopment Foundation Inc.$35,000 for pre-development of
        former grocery store propertyWalnut Hills became a food desert earlier
        this year when the local grocery store closed its doors after 30 years.
        Now, the Walnut Hills Redevelopment Foundation is partnering with the
        community to determine how to best use the property moving forward. The
        Urban Revitalization grant will be put toward community engagement,
        architectural design and an RFP process that will be informed by the

    --  Westwood Community Urban Redevelopment Corp.$33,752 for redevelopment of
        Firehouse No. 35Historic Firehouse No. 35 building is a mainstay in the
        Westwood Historic Business District. The community's urban redevelopment
        group has targeted the site for a new family-friendly restaurant that
        will serve as a destination anchor - alongside the Madcap Center and
        West Side Brewing. Such a restaurant will fill an unmet need for
        community members, create jobs and attract additional visitors and


    --  The Catalytic Fund $51,300 for Sixth and Vine project in DaytonThe
        Catalytic Development Funding Corp. of Northern Kentucky will use an
        Urban Revitalization grant toward the conversion of a historic building
        at Sixth Avenue and Vine Street in Dayton, Ky., from residential back to
        mixed use. Once the renovation is complete, the building will house a
        coffee shop and event space, and will be used by nearby artists
        collective The Lodge for added capacity for its existing events. In
        addition to repurposing the property, the Catalytic Fund hopes the work
        encourages surrounding property owners to invest in their own
        properties, too.

    --  The Catalytic Fund$50,000 for Road ID headquarters in CovingtonA former
        self-storage building at Eighth and Washington streets in Covington will
        be remade into the headquarters of Road ID - a local, family-owned
        business that manufactures custom products to help first responders
        identify people in case of an emergency. Once renovations are complete,
        the building will house Road ID's office, manufacturing, assembly and
        warehousing space. And, in addition to the company's 42 full-time and 60
        part-time and seasonal employees, Road ID expects to hire 30 full-time
        and 30 part-time employees over the next five years.

    --  The Catalytic Fund$18,200 for Newport Food Port in NewportIncubator
        Kitchen Collective (IKC) is a nonprofit in Newport that helps Greater
        Cincinnati food entrepreneurs and startups overcome barriers that can
        prevent local food businesses from getting off the ground. IKC has
        helped more than 50 small businesses grow and realize their potential.
        The Catalytic Fund is working with IKC to expand its kitchen facility so
        the group can increase occupancy and output, and create direct and
        indirect jobs.

Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.

Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.

Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.

The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.

Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Media contact: Lee Freedman
513.287.4152 | @DE_LeeF | 24-Hour: 800.559.3853

View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-awards-more-than-300000-to-10-urban-redevelopment-projects-in-greater-cincinnati-300532030.html

SOURCE Duke Energy

© PRNewswire 2017
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