Avanti Building Update (First Presbyterian)

[DowntownDan]

I can't imagine they're not paying taxes if it's being leased for commercial purposes.

[Cats Cats Cats]

I can't imagine they're not paying taxes if it's being leased for commercial purposes.

Its not like the person that owns the building changes because they lease it out.

[DowntownDan]

Its not like the person that owns the building changes because they lease it out.

Property taxes are based on use of the property, not the status of the owner.  Not the same as income tax.

[Vision 2025]

Even if it is used for commercial purposes like housing or office space?

It is and will be taxable.

[Conan71]

It is and will be taxable.

Thanks Kirby!

[TheArtist]

Its not like the person that owns the building changes because they lease it out.

Right, but as with our Art Deco Museum which also is a non-profit, if we make income with something that is not related to our mission, then we must pay taxes on it.  We pay taxes on items sold at our gift shop for instance, but donations to the museum that are used to further the mission of the museum, are not taxed.  

I am guessing that if we had our own stand alone museum and part of the building was for gallery/office space and part of the building was a gift shop and restaurant, the portion that was not office/gallery space would be taxed (sure there are caveats like, if the amount of space were over such and such and we made more than X amount, etc.).  It may even be that part of the Philcade that is being used for the museum may be able to get some tax deductions and such, but really have no idea.

[rdj]

They pay ad valorem taxes based on the value on the property but not the income they receive from the leasing of the building.

[BuiltRight]

Just talked with the property manager and found out that the new name for the building is going to be "8:10" based off address but also a reference to  Romans 8:10. Also found out that they are currently putting in the fire protection and; the exterior shell is suppose to be complete by mid summer, then the interior build out will begin. Below are some renderings of the anchor tenant Cyntergy AEC








More Pictures at:
http://www.cyntergy.com/new-cyntergy-community-space-810-cincinnati-building/

[BuiltRight]

Sorry about the picture size did not realize they were that big, they were much smaller when viewed on their website

http://www.cyntergy.com/new-cyntergy-community-space-810-cincinnati-building/

[carltonplace]

To resize the image, you put width=(size) inside the square brackets []example {img width=600}

[Townsend]

The woman in the dark blazer is everywhere...and she's creepin' me out.

[RecycleMichael]

The woman in the dark blazer is everywhere...and she's creepin' me out.

Maybe she has sisters and they all dress alike.

[Conan71]

The woman in the dark blazer is everywhere...and she's creepin' me out.

It’s the cra-cra eyes.