Cold, even with president (9)
I believe the answer is:
cleveland
'president' is the definition.
(Grover Cleveland)
'cold even with' is the wordplay.
'cold' becomes 'c' (eg on taps).
'even' becomes 'level' (synonyms).
'with' becomes 'and'.
'c'+'level'+'and'='CLEVELAND'
(Other definitions for cleveland that I've seen before include "Ohio's largest city" , "former President" , "Ohio city on Lake Erie" , "Northeast English county, created 1974" , "US President?" .)