Duke Energy Funds Redevelopment and Business Opportunities in Greater Cincinnati Through $250,000 in Urban Revitalization Grants

CINCINNATI, September 16, 2022 /3BL Media/ - The Duke Energy Foundation announced $250,000 in Urban Revitalization grants to eight projects in southwest Ohio and Northern Kentucky. This grant program spurs economic development through renovation and restoration of urban properties that will, in turn, bring jobs and growth to the region.

While Duke Energy continued to provide grants during the COVID-19 pandemic, grant ceremonies were paused as a safety precaution. As a result, the company celebrated a delayed 10th anniversary of the Urban Revitalization grant program this morning at the Incline Theater in Price Hill, a previous grant recipient. Since launching the program in 2011, Duke Energy has awarded more than $3.2 million to over 100 grantees across Greater Cincinnati. The grants typically provide funding for pre-development costs and serve as catalysts for further economic development in the urban core.

“Our urban corridors and main streets are critical to the vitality of our local communities, where our customers and employees live, work and play,” said Amy Spiller, president, Duke Energy Ohio and Kentucky. “Through our Urban Revitalization grants, we are enabling long-term solutions and supporting the overall vitality of our neighborhoods.”

“We are grateful for Duke Energy’s support on our latest project – the Hollywood Theatre,” said Seth Walsh, chief executive officer, College Hill Urban Redevelopment Corp. “This historic crown jewel sits in the heart of College Hill’s business district. The grant will help fund the architectural and engineering for its critical renovation and no doubt will eliminate blight, create jobs and aid in business retention.”

2022 Urban Revitalization Grant recipients

Kentucky

Catalytic Development Funding Group
$25,000

Acme Building: The funds will be used to develop an 8,000-square-foot building with significant frontage on Madison Avenue in Covington and to spur additional development in this strategic location.

$30,000

Sims Building: This project will convert the historic, currently vacant Sims Building in Covington into a modern office building suitable for growth-stage technology and e-commerce companies.

Ohio

Alloy Development/Small Business Assistance
$40,000

Provide technical assistance to small businesses located in Mount Washington, Camp Washington, Kennedy Heights and Evanston.

College Hill Community Urban Redevelopment Corp./Hollywood Theatre
$50,000

This grant will provide architectural and engineering for the historic Hollywood Theatre in the heart of the business district.

Evanston Community Council/Montgomery Road Redevelopment
$20,000

Funds will be used for redeveloping multiple vacant storefronts and achieving historic building designation.

Norwood Together/Ventura Commons Area Project
$25,000

Funds will be used for pre-development expenses to continue development in the Ventura Commons Area Project with two buildings along the main business corridor of Norwood.

Price Hill Will/Warsaw Avenue Creative Campus
$35,000

The grant will be used to fund architectural services for the Creative Campus – connecting the Incline District to the historic Warsaw neighborhood.

Robert O’Neal Multicultural Arts Center
$25,000

The funds will be used for architectural schematics and additional pre-development expenses to accomplish next steps towards establishing arts access in the West End.

Watch this video for a deeper look into the impact of the Duke Energy Foundation Urban Revitalization grants in Greater Cincinnati.

Duke Energy Foundation

The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.

Duke Energy Ohio/Kentucky

Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to 880,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to 550,000 customers in a 2,650-square-mile service area, in Ohio and Kentucky.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Contact: Casey Kroger
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