HOMEBASE CINCINNATI

The Neighborhood Voluntary Tax Incentive Contribution Agreement (VTICA) is part of the City of Cincinnatis Community Reinvestment Area CRA) Program in which commercial tax abatement recipients contribute 15% of the value of a development tax incentive back to affordable housing (7.5%) and neighborhood quality of life projects (7.5%). The purpose of Neighborhood VTICA funds are to improve the quality of life within a neighborhood. HomeBase Cincinnati administers the Neighborhood VTICA program and the portion of funding allocated to neighborhood quality of life projects. The amount of money individual neighborhoods have available is based on how many new developments, with a CRA that includes a VTICA, come to that neighborhood. Under the current ordinance, the Neighborhood VTICA funding must be used within the neighborhood for which the funding was collected and cannot be combined and shared with other neighborhoods. (See Section 8 of City Ordinance 275 - 2017). For downtown and Over-the-Rhine projects, VTICA payments fund the Streetcar. Therefore, the neighborhood funds are to be used for community improvements in neighborhoods outside of downtown and Over-the-Rhine.