Ohio awards over $28M in historic rehabilitation tax credits

Posted at 9:31 AM, Jun 27, 2019
and last updated 2019-06-27 09:31:48-04

COLUMBUS, Ohio (AP) — A state agency has awarded a total of more than $28 million in tax credits for the rehabilitation of 49 historic buildings in Ohio.

The Ohio Development Services Agency announced the Ohio Historic Preservation Tax Credits on Wednesday. The agency's release says the projects are expected to leverage approximately $280 million in private investments in 13 communities.

The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. The tax credits are not issued to developers until project construction is complete and all program requirements are verified.

Agency director Lydia Mihalik says the credits help preserve historic sites and create new opportunities for small businesses and housing.

The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection's State Historic Preservation Office.

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