On Tuesday, the Ohio Development Services Agency announced recipients for the 17th round of the Ohio Historic Preservation Tax Credit. And, for the 17th time in a row, no Richland County project was included.

This set of awards included $22.8 million in tax credits to 18 applicants planning to rehabilitate 33 historic buildings. Together, the projects are expected to generate $225.6 million in private investment in 12 communities across Ohio.

“A community’s historic buildings make it unique,” said David Goodman, director of the Ohio Development Services Agency. “Giving a building new life honors the history of the building, while creating construction jobs in the short term and opportunity for economic activity into the future.”

The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. The renovated buildings drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.

Projects awarded tax credits in this round range in scope from a $600,000-plus renovation of a four unit apartment building in Tiffin to a $53,000,000 rehabilitation of the former Halle’s Department Store building in downtown Cleveland. Cities benefited include Cleveland, Kent, Sandusky, Lima, Tiffin, Columbus, Newark, Delaware, Xenia, Dayton, Cincinnati, and Hamilton.

Over the first fifteen rounds of the program, 284 projects have been awarded credits to rehabilitate 398 historic buildings in 52 different Ohio communities, leveraging nearly $4.4 billion in private development funding. The Ohio program is one of the leading such efforts in the country.

Despite having many buildings which would qualify, no award of the Ohio Historic Preservation Tax Credit has been made to a property in Mansfield or Richland County.

Source: Ohio Development Services Agency, State of Ohio — Photo Credit: Hamilton-Mercantile Block, Hamilton, a Ohio Historic Preservation Tax Credit Project – Creative Commons License

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