Tuesday, August 13 2013
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State Alleges Startup Made False and Misleading Statements
SoMoLend and its founder, startup darling Candace Klein, may soon be out of commission thanks to allegations of fraud made by Ohio’s Division of Securities. Among the litany of complaints recently voiced by the state are false and misleading statements, fraudulent financial projections and failure to secure proper licensure within the state.
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City Pensions Will Be On the Ballot This Fall
Hamilton County Board of Elections has ruled that voters will have an official stake in choosing to make changes to the city’s ailing pension system this November. The amendment to Cincinnati’s charter would put any new workers hired after the end of the year into a new retirement plan, with the city contributing up to 9 percent of their annual salary.
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Steve Leeper’s Reign at 3CDC isn’t without Controversy
The Cincinnati Enquirer published a lengthy profile of Steve Leeper, the man who is transforming downtown one neighborhood at a time. The city brought Leeper to the Queen City from Pittsburgh nearly a decade ago to remake the city’s urban core. Leeper’s tenure as the head of 3CDC hasn’t been without controversy, however. Critics claim some of his policies have displaced affordable housing and have neglected historic buildings. Leeper maintains that without 3CDC’s efforts the buildings would have fallen into disrepair. Leeper says 3CDC’s plans for the next five years include turning close to 100 vacant buildings into offices, apartments, condos and stores in Over-the-Rhine.
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Northside Continues to Welcome New Construction Projects
Cincinnati City Council approved a $10.5 million project to be built on the corner of Hamilton Avenue and Blue Rock Street in Northside, which would include 104 apartments and 8,000 square feet of commercial space. Construction at the location, which was once home to the former Mergard’s Bowling Alley, is set to begin this fall or early 2014.
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Cincinnati Casino Accidentally Awards $1 Million
A blunder at Cincinnati’s Horseshoe Casino Sunday ended up costing the casino $1 million. Due to a name mix up, the casino awarded a $1 million prize to the incorrect Kevin Lewis before realizing their mistake. To their credit the casino also awarded the correct winner $1 million and allowed their mistake to make the incorrect Lewis $1 million happier. The prize was a promotion for the casino’s Total Rewards program.
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