2015-11-16T11:51:56-06:00 2014-12-31 GRANT THORNTON LLP 4000 SMITH ROAD SUITE 500 CINCINNATI OH 45209 990 2014-01-01 200446324 Cincinnati Center City Development Corp % TIMOTHY SZILASI CINC 5136214400 1203 Walnut Street Cincinnati OH 45202 Timothy Szilasi Interim CFO 5136214400 2015-11-16 true Bridget Roche P00666837 5137625000 2014 2016-02-25 16:41:14Z X Timothy Szilasi 1203 Walnut Street Cincinnati OH 45202 42553709 false X 3cdc.org X 2003 OH To strengthen the core assets of downtown Cincinnati; create great civic spaces, high-density/mixed-use developments, preserve historic structures 32 30 123 100 0 19593711 13697187 9833341 12787642 404388 -5847217 -477222 653142 29354218 21290754 518247 1193858 0 0 5005672 6125392 0 0 161559 14510115 26372298 20034034 33691548 9320184 -12400794 245451613 249746097 235628064 251564616 9823549 -1818519 To strengthen the core assets of downtown Cincinnati; create great civic spaces, high-density/mixed-use developments, preserve historic structures and create diverse, mixed-income neighborhoods supported by local businesses. false false 6796074 10920 7391268 Fountain Square District/Central Business District: In 2014, 3CDC hosted over 500 events at Fountain Square, welcoming over 2,000,000 visitors to downtown Cincinnati. In addition, the organization completed work on the brand new 84.510 building (formerly known as the dunnhumby Centre), providing Cincinnati's center city with a 1,000 space parking garage, 30,000 square feet of commercial space, and a 280,000 square foot office building. 22483163 1182938 5396374 Over-the-Rhine: 3CDC expanded upon its summer programming at Washington Park in 2014, highlighted by the addition of multiple fitness classes and a new world market. The organization hosted more than 300 events at the park, drawing approximately 1,000,000 people to OTR. On the development side, 3CDC completed the first two phases of its Mercer Commons project, which yielded a of total 67 apartments (30 of which are affordable units), 23 condominiums, five townhomes, 14,500 square feet of commercial space, and a 340-space parking garage. Additionally, the fifth phase of 3CDC's OTR development plan was nearly completed by the end of 2014. Phase V included 74 condominiums, 14 apartments and 7,980 square feet of commercial space. The organization also leased 13 of its commercial spaces, bringing restaurants, bars, retail stores, and even a yoga studio online during 2014. 29279237 true true false false false false false false true false true true false true true true false true false false false false false false false false false false false true true false false false false false false false false true true false false false false true true true true true false true 289 0 true 123 true false false false false false false false false false false X 32 30 true false false false false false false true true false false true true true true true true true true true true X X TIMOTHY SZILASI 5136214400 1203 WALNUT STREET Cincinnati OH 45202 X Melanie Healey Chair 5.0 X 0 0 0 Joseph A Pichler Vice Chair 5.0 X 0 0 0 James M Zimmerman Vice Chair 5.0 X 0 0 0 Brian Carley Board Member 5.0 X 0 0 0 Brian Hodgett Board Member 5.0 X 0 0 0 Calvin D Buford Board Member 5.0 X 0 0 0 Claude Davis Board Member 5.0 X 0 0 0 J Phillip Holloman Board Member 5.0 X 0 0 0 James Ellerhorst Board Member 5.0 X 0 0 0 John C Merchant Board Member 5.0 X 0 0 0 John F Barrett Board Member 5.0 X 0 0 0 John F Cassidy Board Member 5.0 X 0 0 0 Karen M Hoguet Board Member 5.0 X 0 0 0 Kenneth W Lowe Board Member 5.0 X 0 0 0 Kevin Jones Board Member 5.0 X 0 0 0 Margaret E Buchanan Board Member 5.0 X 0 0 0 Marc Manly Board Member 5.0 X 0 0 0 Michael Comer Board Member 5.0 X 0 0 0 Michael Fisher Board Member 5.0 X 0 0 0 Neil K Bortz Board Member 5.0 X 0 0 0 Paul F Gelter Board Member 5.0 X 0 0 0 R Michael Prescott Board Member 5.0 X 0 0 0 Ralph S Michael Board Member 5.0 X 0 0 0 Robert H Castellini Board Member 5.0 X 0 0 0 Rodney McMullen Board Member 5.0 X 0 0 0 Rosaleena Marcellus Board Member 5.0 X 0 0 0 S Kay Geiger Board Member 5.0 X 0 0 0 Shane Wright Board Member 5.0 X 0 0 0 Thomas L Williams Board Member 5.0 X 0 0 0 Todd Gick Board Member 5.0 X 0 0 0 Yvonne Gray Washington Board Member 5.0 X 0 0 0 Stephen G Leeper President & CEO 50.0 5.0 X X 442600 0 42394 David Dillion Board Member 5.0 0.0 X 0 0 0 Ellen Van der Horst Board Member 5.0 0.0 X 0 0 0 Michael Fisher Board Member 5.0 0.0 X 0 0 0 Matt Waltz Board Member 5.0 0.0 X 0 0 0 Larry Savage Board Member 5.0 0.0 X 0 0 0 Stephanie Gaither EVP & CFO 50.0 5.0 X 224980 0 15432 Chad S Munitz through Oct 2014 EVP, Asset & Captial Mgmt 45.0 5.0 X 146415 0 15082 Adam Gelter EVP, Development 45.0 5.0 X 229684 0 6613 Anastasia Mileham VP, Marketing & Communications 45.0 5.0 X 143288 0 8631 JOHN FOX VICE-PRESIDENT 5.0 5.0 X 92120 0 0 1279087 0 88152 5 false true false The Turner Corporation 250 West Court St CINCINNATI OH 45202 Construction 25147661 RJ Beischel Building Co PO Box 32067 CINCINNATI OH 45232 Construction 1906151 HGC Construction 2814 Stanton Ave CINCINNATI OH 45206 Construction 1683798 Messer Construction Co 5158 Fishwich Drive CINCINNATI OH 45216 Construction 1567987 Core Resources Inc 1404 Vine Street CINCINNATI OH 45202 Construction 1514570 47 5284600 8412587 13697187 MANAGEMENT FEE INCOME 541610 1861478 1861478 DEVELOPER FEE INCOME 230000 2128636 2128636 PARKING INCOME 812930 5114790 5114790 EVENTS AND PROGRAMMING INCOME 713990 1383864 1383864 LEASE REVENUE 532000 1450033 1450033 848841 848841 12787642 548692 548692 0 0 0 0 0 14867046 21262955 -6395909 -6395909 -6395909 0 0 0 DEBT FORGIVENESS 900099 11475 11475 OTHER 900099 641667 641667 653142 21290754 12787642 -5194075 1193858 1193858 0 0 0 1186967 384575 767676 34716 229684 229684 4344219 1558762 2666697 118760 25000 25000 63152 63152 276370 89544 178743 8083 294815 260815 34000 310421 142060 168361 355580 355580 0 0 0 0 170638 150844 19794 199618 159208 40410 0 0 2048865 1944850 104015 61185 18981 42204 0 0 5509124 5402171 106953 0 4224457 4204627 19830 515513 450905 64608 EVENT AND PROGRAMMING EXP 817886 817886 SAFE AND CLEAN PROGRAM 464991 464991 PROJECT FINANCING COSTS PAID 10916166 10916166 PROFESSIONAL MEMBERSHIPS 6117 560 5557 476922 445018 31904 33691548 29279237 4250752 161559 16913207 18417398 0 0 1873850 1545760 4258911 5910300 0 0 0 0 11919968 16707967 0 0 6361674 6120420 173071448 16255197 130560170 156816251 0 0 27487396 36450174 23094524 4833217 0 0 22981913 2944610 245451613 249746097 12017639 34050010 0 0 0 19009590 0 0 111443 0 0 0 198821564 192054930 0 0 24677418 6450086 235628064 251564616 X 454145 -9068511 9369404 7249992 0 0 9823549 -1818519 245451613 249746097 X -12400794 758726 X false true X true false X 5843607 6388459 3908508 19593711 13697187 49431472 0 0 5843607 6388459 3908508 19593711 13697187 49431472 7403783 42027689 799546 662645 719970 459809 548692 3190662 0 119041 38102 11922 770890 653142 1593097 54215231 12787642 0.77520 0.80265 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 6089105 6089105 69347020 2472924 66874096 73498754 12793859 60704895 12975342 652788 12322554 111156817 335620 10823399 156816251 INVESTMENT IN 99% OWNED LLC 36450174 C 36450174 0 REFUNDABLE ADVANCE 224133 SECURITY DEPOSIT 92477 OTHER 13072 FINANCING LIABILITY 6120404 6450086 X Schedule D, Part IV, Line 2b Cost method of evaulation for real estate held for sale and real estate held for investment PART X, LINE 2 3CDC EVALUATES ITS UNCERTAIN TAX POSITIONS AS TO WHETHER IT IS MORE LIKELY THAN NOT A TAX POSITION COULD BE SUSTAINED IN THE EVENT OF AN AUDIT BY THE APPLICABLE TAXING AUTHORITY. ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS, AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. 3CDC ANALYZED ITS INCOME TAX POSITIONS AND CONCLUDED THAT IT HAD NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2014 AND DECEMBER 31, 2013. TAX YEARS OPEN TO EXAMINATION INCLUDE 2014, 2013, 2012, AND 2011. PART IV, LINE 2B DURING THE TAX YEAR GATEWAY II, LLC SERVED AS AN ESCROW AGENT OVER FIVE SEPERATE BANK ACCOUNTS, WITH THREE ENDING DURING THE TAX YEAR. THE PURPOSE FOR THIS ROLE IS TO AID MULTIPLE LENDERS ON DEVELOPMENT PROJECTS IN OVER-THE-RHINE IN DISTRIBUTING THE SALES PROCEEDS FROM HOMEOWNERSHIP UNIT SALES ACCORDING TO THE COLLATERAL SHARING AGREEMENTS IN PLACE FOR EACH PROJECT, RESPECTIVELY. X true true X X X true false false false false false false true false Stephen G Leeper President & CEO 328656 0 108689 0 5255 0 25000 0 17394 0 484994 0 0 0 Stephanie Gaither EVP & CFO 180841 0 26973 0 17166 0 0 0 15432 0 240412 0 0 0 Chad S Munitz through Oct 2014 EVP, Asset & Captial Mgmt 130066 0 16349 0 0 0 0 0 15082 0 161497 0 0 0 Adam Gelter EVP, Development 199684 0 30000 0 0 0 0 0 6613 0 236297 0 0 0 Anastasia Mileham VP, Marketing & Communications 126939 0 16349 0 0 0 0 0 8631 0 151919 0 0 0 Schedule J, Part I, Line 4a Change of Control or Severance Payment. Chad Munitz received a severance payment of $17,166. John Fox received a severance payment of $58,938. These were included in the individuals W-2. Schedule J, Part I, Line 4b ANNUAL BONUSES ARE AWARDED BASED ON PERFORMANCE OF THE INDIVIDUAL EMPLOYEE AGAINST POSITION REQUIREMENTS. Schedule J, Part I, Line 7 All employees of 3CDC are eligible for a 10% bonus depending on performance metrics. The president and CEO, Stephen G. Leeper, as part of his employment contract receives a bonus that this reviewed and approved by the board that was in the amount of $25,000 in 2014. Schedule J, Part I, Line 1a Discretionary Spending Account Stephen G. Leeper, the president and CEO receives a car allowance in the amount of $5,255 that is included as part of his W-2 income. This amount was reviewed and approved as part of his employment contract by the board. A PORT OF GREATER CINCINNATI DEVELOPMENT AUTHORITY 311752368 2011-12-28 14540450 Refunding Prior Issue false false false B PORT OF GREATER CINCINNATI DEVELOPMENT AUTHORITY 311752368 2011-12-28 956276 Facility Improvement false false false C PORT OF GREATER CINCINNATI DEVELOPMENT AUTHORITY 311752368 2011-12-28 820000 Facility Improvement false false false A 0 0 14540450 0 0 0 0 0 0 0 14540450 0 2007 true false true true B 0 0 956276 0 0 0 153560 0 0 0 0 802746 2007 true false true true C 0 0 820000 0 0 0 15166 0 0 0 0 804834 2007 true false true true A false false false false 0 true false false false B false false false false 0 true false false false C false false false false 0 true false false false A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false A false B false C false S A PORT OF GREATER CINCINNATI DEVELOPMENT AUTHORITY 311752368 2013-06-20 24000000 Refunding and Facility Improvement false false false A 0 0 24000000 0 0 0 0 0 0 0 3400000 19600000 2012 true false true true A false false false false 0 true false false false A true true true PNC BANK NATIONAL 5. true false false 0 false false A false Adam Gelter Paul Gelter Son of board member 229684 COMPENSATION false Form 990, Part VI, Line 2 Paul Gelter (board member) is the father of Adam Gelter (executive at 3CDC) Form 990, Part VI, Line 11b Form 990 is reviewed by CFO and CEO prior to draft given to audit committee for review. Executive committee reviews the governance and compensation data, and is given a copy of the full tax return as well. Form 990, Part VI, Line 12c Conflict of interest policy is verbally discussed at regular staff meetings. Each year all officers, directors and employees are required to fill out a conflict of interest (COI) disclosure form (alternative years a reconfirmation of prior year). The form is reviewed and summarized internally and submitted to the organization's general counsel for review and disclosure to executive committee, if necessary. Any action taken by the board or committee that has a COI of an employee, director or officer is disclosed prior to passage and the individual is requested to leave the room during the discusion and vote. Form 990, Part VI, Line 15a The executive committee utilized comparability data when determining the CEO's compensation in completing his employment contract. Each year the committee reviews the organization's scorecard and results as well as the CEO's performance in assessing his compensation changes. Finally, the chair discusses the results with board members. Form 990, Part VI, Line 15b Other key staff compensation is determined by comparing local or regional salary data as well as the individual's performance. Form 990, Part VI, Line 19 Documents are available to the public upon request. FORM 990, Part VI, Section C, Line 18: THE EXEMPTION APPLICATION AND 990 IS AVAILABLE UPON REQUEST OR ON THE GUIDE-STAR WEBSITE. FORM 990, Part VI, Section C, Line 19: THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Part XI, Line 9 Change in net assets is due to member distributions and change in value of variable interest entities. Fountain Square LLC 1410 Race Street Cincinnati OH 45202 200446324 Same as 3CDC OH 3930816 35270071 NA Gateway II LLC 1410 Race Street Cincinnati OH 45202 204853806 Same as 3CDC OH 2797459 7024598 NA CCCP LLC 1410 Race Street Cincinnati OH 45202 260285149 Same as 3CDC OH 286289 839458 NA Fountain Square Management Group LLC 1410 Race Street Cincinnati OH 45202 205399588 Same as 3CDC OH 2232680 1071529 NA Azeotropic Partners LLC 1410 Race Street Cincinnati OH 45202 264490064 Same as 3CDC OH 278 682857 NA Washington Park Restoration LLC 1410 Race Street Cincinnati OH 45202 271436027 Same as 3CDC OH 2043506 40908769 NA 1400 Race Leveraged Lender LLC 1410 Race Street Cincinnati OH 45202 272610479 Same as 3CDC OH 242900 4393446 NA 1400 Race Master Tenant Manager LLC 1410 Race Street Cincinnati OH 45202 272610288 Same as 3CDC OH 3306 0 NA OTR Predevelopment LLC 1410 Race Street Cincinnati OH 45202 273117811 Same as 3CDC OH 80333 2243785 NA 1202 Main Street LLC 1410 Race Street Cincinnati OH 45202 452447277 Same as 3CDC OH 189575 1163363 NA 120 East Sixth Street LLC 1410 Race Street Cincinnati OH 45202 452246433 Same as 3CDC OH 685717 1099038 NA 032811 Holdings LLC 1410 Race Street Cincinnati OH 45202 364702169 Same as 3CDC OH 5491801 15546406 NA Urban Legacy VII LLC 1410 Race Street Cincinnati OH 45202 300706445 Same as 3CDC OH 265330 4271029 NA Urban Legacy VIII LLC 1410 Race Street Cincinnati OH 45202 320359245 Same as 3CDC OH 13037668 743144 NA Paint Building Master Sub-Tenant LLC 1410 Race Street Cincinnati OH 45202 611665699 Same as 3CDC OH 269500 13886706 NA Paint Building Leveraged Lender LLC 1410 Race Street Cincinnati OH 45202 383857641 Same as 3CDC OH 81742 4480714 NA Mercer Commons OTR LLC 1203 Walnut Cincinnati OH 45202 383877916 Same as 3CDC OH 6174884 1478769 NA Mercer Commons Garage OTR LLC 1203 Walnut Cincinnati OH 45202 364735410 Same as 3CDC OH 515952 3609804 NA Fifth and Race LLC 1203 Walnut Cincinnati OH 45202 320374707 Same as 3CDC OH 102230 8527287 NA Cintrifuse Landlord LLC 1203 Walnut Cincinnati OH 45202 352476904 Same as 3CDC OH 4613481 59818578 NA 15th & Vine LLC 1203 Walnut Cincinnati OH 45202 371738643 Same as 3CDC OH 5911259 NA 15th & Race 1203 Walnut Cincinnati OH 45202 320416176 Same as 3CDC OH 2176132 NA Mercer Commons Leveraged Lender 2 LLC 1203 Walnut Cincinnati OH 45202 352468974 Same as 3CDC OH 3103961 NA 1200 Vine LLC 1203 Walnut Cincinnati OH 45202 030589872 Same as 3CDC OH 80769 3305290 NA 1100 Vine LLC 1203 Walnut Cincinnati OH 45202 030589869 Same as 3CDC OH 242299 1968769 NA 1100 Vine Commercial LLC 1203 Walnut Cincinnati OH 45202 870773183 Same as 3CDC OH 84891 661738 NA 1222 Republic LLC 1203 Walnut Cincinnati OH 45202 300488295 Same as 3CDC OH 194778 1287204 NA Condo Holdings LLC 1203 Walnut Cincinnati OH 45202 611743298 Same as 3CDC OH 4401091 NA Fourth and Race Redevelopment LLC 1203 Walnut Cincinnati OH 45202 611751654 Same as 3CDC OH 103 2949159 NA Elm Street Acquisitions LLC 383859201 Revelopment OH OTR Holdings Interstate Holdings LLC 383859201 Same as 3CDC OH 032811 Holdi OTR Holdings Inc 1410 Race Streeet Cincinnati OH 45202 202363373 Redevelopment OH 501 ( C)(2) NA true CBD Holdings Inc 1410 Race Streeet Cincinnati OH 45202 262835540 Renovation OH 501 ( C)(2) NA true 1400 Race Master Sub-Tenant LLC 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA 569966 381100 false true 0.99000 WPR Leveraged Lender LLC 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA 446601 34844102 false true 0.99000 120 East Sixth Leverage Lender 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA 150695 11601357 false true 0.99000 Mercer Commons Leverage Lender 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA 190375 14909405 false true 0.99000 Fifth and Race Leverage Lender 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA 825000 26691119 false true 0.99000 Ale House Master Tenant 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA -84 3915590 false true 0.99000 1201 Walnut Master Tenant 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA -6916 6346255 false true 0.99000 Globe Building Master Tenant 1203 Walnut Cincinnati OH 45202 Same as 3CDC OH NA -23308 228933 false true 0.99000 CBD Holdings Inc 262835540 same as 3cdc OH na false true 0.99000 1201 Walnut LLC 352482329 same as 3cdc OH na false true 0.99000 Ale House Landlord LLC 383927763 same as 3cdc OH na false true 0.99000 Globe Building LLC 364792845 same as 3cdc OH na false true 0.99000 false true true false false false false true false false true false false true true true true false true 120 E 6th St Leverage Lender LLC B 294073 Capital Contrib WPR Leveraged Lender LLC C 90000 Capital Contrib Mercer Commons Leveraged Lender b 3757540 Purchase Price- OTR Holdings Inc n 50400 Rent Paid to 14 1400 Race Master Sub-Tenant LLC k 108738 MGMT Fee Paid