Woodward Trust has an investment portfolio comprised of donated and accumulated funds. The trust also owns about four acres of land. Income from these assets is used to provide educational benefits to needy Cincinnati students through a variety of programs.
Woodward Trust currently owns four acres of land in the Over-the-Rhine district of Cincinnati which it leases to third parties. Almost all of this property was donated to the trust by William Woodward in 1831, although certain parcels were later donated to the trust. Several parcels of the original William Woodward property were given to the City of Cincinnati during the 1970s for the creation of recreational parks.
Under the terms of the original trust document, the properties may not be sold, gifted or otherwise disposed of by the trust. Instead, each property shall be leased for the term of fifteen years at a time, or for a longer period, if the extended lease contains a clause of revaluation every fifteen years. Most of the properties are currently under 99-year, renewable ground leases, each with a clause allowing revaluation of its rent amount either every fifteen years (fixed rent) or whenever the Hamilton County Auditor's valuation of the underlying property changes (adjustable rent).
Property of the Woodward Trust is approximately as follows:
> South side of 13th St. (formerly Woodward St.)
from Cogswell Alley (west of Sycamore St.) to Broadway St.
> North & south sides of 12th St. (formerly Abigail St.)
from mid-block between Goetz & Cogswell Alleys
(west of Sycamore St. to Broadway St.)
> 1432 Main St.
Ownership and leases on Woodward Trust property are so recorded with the Hamilton County Auditor. Inquiries are directed to that office or their website (which provides excellent parcel-by-parcel information, history and photographs) at the Hamilton County Auditor's website.
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