Loveland, Ohio – The City completed the “closing” to purchase 507 Loveland Madeira Road last week. The property, was the former Donisi Mirror Company.
The City received $500,000 in grant funding from the Hamilton County Commissioners towards the purchase price. According to City Manager Dave Kennedy in his weekly report, “Now owned by the city, the structure will be razed and the property repurposed for a private development.”
The total cost of the property acquisition was $590,000, leaving a balance of $90,000 for the city to pay. Kennedy reported that the city has identified and has been working with a potential end user of the property who would construct a new office building on the site. To facilitate the city’s future sale or lease of the property, staff recommended the property be transferred to the Community Improvement Corporation (CIC), which would require council to hold a public hearing. He requested the public hearing be held at the August 27 city council meeting.
Kennedy said at the August 13 Council meeting that the cost of razing the structure was not included in the purchase price. He said that, “…razing the structure will be expensive and the city is currently working with our state legislators and the Cincinnati Port Authority to seek funding assistance.”
Ordinance 2024-64, authorizing the purchase was adopted by a vote of 7-0.
