Buckeye Reporter

(COLUMBUS, Ohio)—Ohio Governor Mike DeWine, Lt. Governor Jon Husted, and Ohio Department of Development Director Lydia Mihalik on June 29,  announced state support for 38 historic preservation projects that will rehabilitate 59 historic buildings across Ohio. The projects are expected to leverage approximately $523 million in public and private investment.

 The projects are being awarded funding as part of the Ohio Historic Preservation Tax Credit Program (OHPTC), administered by the Ohio Department of Development. Sixteen communities across the state are receiving awards totaling $50,560,036 in tax credits. 

“Ohio’s history is rich with innovation,” said Governor DeWine. “Many of these buildings were once home to the factories, shops, and offices that drove Ohio forward, and they still have a place in Ohio's future. We are excited to help revive these historic structures so they can once again be a valuable part of their communities."

“One of the virtues of this program is the ability to preserve our historic buildings while investing in the future,” said Lt. Governor Husted. “What was old is now new, cool, and vibrant.”

The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant on June 29,  and generate little economic activity. Once rehabilitated, they will 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. 

Original source can be found here.