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May 22nd, 2013 By German Lopez | News | Posted In: News, Economy, Development, Budget

Morning News and Stuff

Local job numbers improve, housing supply lags behind demand, The Banks gets price tag

news1_banks_condos_ckPhoto: Cameron Knight

Local job numbers continued their positive trend in April, with Cincinnati’s unemployment rate dropping to 6.9 percent and the rest of the region following suit. Michael Jones, research director at the University of Cincinnati Economics Center, attributed the job gains to improvements in manufacturing and continued growth in health care jobs. Still, the public sector continued to lag behind the private sector — a trend Jones says could change in the coming months as government budgets are adjusted to match higher tax revenues resulting from the recovering economy.

Downtown’s population growth slowed last year as available housing failed to match demand, according to Downtown Cincinnati Inc.’s annual report. In the past few years, the city has pursued multiple actions to meet demand, particularly through public-private partnerships. Most recently, City Council approved leasing the city’s parking assets to raise funds that would help build 300 luxury apartments, but that plan is currently being held up in court.

The second phase of The Banks riverfront project will cost $62 million, according to the report from Downtown Cincinnati Inc. That’s smaller than the first phase, which cost $90 million. The second phase of the project is expected to begin this fall, and it should bring 300 apartments and 60,000 square feet of street-level retail space to the area by the end of 2015.

The Banks also plans to build a $45 million hotel, which is also expected to be complete in 2015. The funding for the projects is coming through multiple public-private partnerships.

After the final public hearing on the city budget Wednesday, Councilwoman Laure Quinlivan plans to introduce her own budget plan that would avoid all city employee layoffs. A statement from Quinlivan did not give much in the way of details: “My plan saves all city jobs and restores all neighborhood programs. It requires common sense and shared sacrifice of all city employees.” Most recently, council members Chris Seelbach and Roxanne Qualls co-sponsored a motion that would eliminate fire layoffs and reduce police layoffs to 25 by making cuts elsewhere.

The Ohio Senate plans to vote today on a measure that would effectively close down hundreds of Internet “sweepstakes” cafes around the state in an effort to eliminate illegal gambling activities. The cafes’ operators insist their activities are not gambling but rather a promotional tool that helps sell Internet time and long-distance phone cards.

Cincinnati’s zoning hearing examiner says he’s trying to reduce the time it takes to go through the zoning hearing process to less than 60 days.

Three major Ohio universities, including the University of Cincinnati, and four hospitals, including Cincinnati Children's Hospital, are teaming up to find out what causes premature birth.

Beginning July 1, some Ohio interstates will allow drivers to go 70 miles per hour. Find out which ones here.

At congressional hearings yesterday, U.S. senators criticized Apple for legally taking advantage of the complex American corporate tax system, but Kentucky Sen. Rand Paul put the blame on Congress:

Russia is building robots to “neutralize” terrorists, and other researchers are working on robots that will attempt to rescue people after disasters.

The creator of the GIF says it’s pronounced “jif.”

 
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