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Financial Tools & Incentives for Downtown Revitalization: Historic Preservation Tax Credits and the Main Street Approach Workshop

Wednesday, June 7th – 9:30 am – 3:30 pm
OJ Work Auditorium – Wadsworth

Join us for a conversation about community development, and how to create vibrant downtowns and thriving communities through the Main Street approach. Then, participate in a deep-dive discussion on the Federal and State Historic Preservation Tax Credit programs for historic building rehabilitation. Learn how to qualify, apply, and use the financing tools you need to breathe new life into your historic structures.

Agenda

9:30 AM: Registration & Morning Refreshments

10:00 AM: An overview of community revitalization, and the role of preservation and revitalization in community pride and quality of life. Introduction to the Ohio Main Street Program for sustainable downtown revitalization – Heritage Ohio Staff

11:00 AM : Understanding the National Register of Historic Places

11:30 AM: Overview of the Certified Local Government (CLG) Program

12:30 PM: Lunch (included with registration)

1:00 PM: The Federal Historic Preservation Tax Credit Program 

2:00 PM: The Ohio Historic Preservation Tax Credit Program

3:00 PM: Q&A

 

Financial Tools & Incentives for Downtown Revitalization: Historic Preservation Tax Credits and the Main Street Approach Workshop

Wednesday, May 24th – 9:30 am – 3:30 pm
Buckeye Hills Regional Council Office – Marietta

Join us for a conversation about community development, and how to create vibrant downtowns and thriving communities through the Main Street approach. Then, participate in a deep-dive discussion on the Federal and State Historic Preservation Tax Credit programs for historic building rehabilitation. Learn how to qualify, apply, and use the financing tools you need to breathe new life into your historic structures.

Agenda

9:30 AM: Registration & Morning Refreshments

10:00 AM: An overview of community revitalization, and the role of preservation and revitalization in community pride and quality of life. Introduction to the Ohio Main Street Program for sustainable downtown revitalization – Heritage Ohio Staff

11:00 AM : Understanding the National Register of Historic Places

11:30 AM: Overview of the Certified Local Government (CLG) Program

12:30 PM: Lunch (included with registration)

1:00 PM: The Federal Historic Preservation Tax Credit Program 

2:00 PM: The Ohio Historic Preservation Tax Credit Program

3:00 PM: Q&A

Financial Tools & Incentives for Downtown Revitalization: Historic Preservation Tax Credits and the Main Street Approach Workshop

Thursday, February 23rd – 9:30 am – 4:00 pm
Southeast Ohio History Center

Join us for a conversation about community development, and how to create vibrant downtowns and thriving communities through the Main Street approach. Then, participate in a deep-dive discussion on the Federal and State Historic Preservation Tax Credit programs for historic building rehabilitation. Learn how to qualify, apply, and use the financing tools you need to breathe new life into your historic structures.

Agenda

9:30 AM: Registration & Morning Refreshments

10:00 AM: An overview of community revitalization, and the role of preservation and revitalization in community pride and quality of life. Introduction to the Ohio Main Street Program for sustainable downtown revitalization – Heritage Ohio Staff

11:30 AM : Federal Historic Preservation Tax Credits – Sam DeCillis, State Historic Preservation Office

12:30 PM: Lunch (included with registration)

1:00 PM: The Ohio Historic Preservation Tax Credit Program – Lisa Brownell, Ohio Department of Development

2:00 PM: Community Reinvestment Act overview – Phyllicia Faieta & Peter Vail, City of Lancaster

3:00 PM: Q&A

Historic Preservation Tax Credit Workshop

Thursday, November 10th – 9:30 pm – 3:00 pm
Ariel Broadway Hotel, Lorain

Join us for a deep-dive explanation on the Federal and State Historic Tax Credit incentives for historic building rehabilitation. Learn how to qualify, apply, and use the financing tools you need to breathe new life into your historic structures.

The seminar is presented thanks to generous funding by The Nord Family Foundation and the Community Foundation of Lorain County, in partnership with Heritage Ohio.

Agenda

9:30 AM: Registration & Morning Refreshments

10:00 AM: Federal Historic Preservation Tax Credits – Mariangela Pfister, State Historic Preservation Office

11:00 AM : The Ohio Historic Preservation Tax Credit Program – Lisa Brownell, Ohio Department of Development

12:00 PM: Lunch (included with registration)

1:00 PM: Using New Market Tax Credits – Amanda Read & Annette Stevenson, Novogradac

2:00 PM: The Developer’s Perspective, Radhika Reddy, Developer & Owner, Ariel Broadway Hotel

 

REGISTRATION IS NOW FULL & CLOSED. ON-SITE REGISTRATION WILL NOT BE OFFERED.

We hope you can join us at our next historic tax credit workshop in 2023.

Revitalize with Historic Preservation Tax Credits

Onesto Hotel Interior

The Ohio Historic Preservation Tax Credit Program is one of the most important tools used in the revitalization of Ohio’s downtowns. Since 2007, this program has been essential to help Ohio to grow and prosper by attracting and retaining our youth, talent and entrepreneurs through revitalization of our towns and cities.

Ohio has the 3rd most historic buildings in the country, and we can turn these abandoned and underutilized liabilities into income producing, tax paying assets. We can be competitive with other states in attracting people and businesses with our authentic historic buildings, streets and neighborhoods.

The best part, this program has a real return on investment, it pays the state back in increased revenue (often 1/3 comes back before the credit is even taken), as well as jobs and economic activity. Every county in the state can take advantage of this incentive to help boost their local economy.


Get the Facts


Former Hercules Plant InteriorHeritage Ohio commissioned an independent study to look at the economic impact of the Ohio Historic Preservation Tax Credit in Ohio communities. Read the full report.

The Ohio Development Services Agency assembled a comprehensive report of the impacts Ohio Historic Preservation Tax Credits have had around the state. Read the ODSA Comprehensive Report.

All completed and certified Ohio Historic Preservation Tax Credit projects strictly adhere to The Secretary of the Interior Standards for Rehabilitation of Historic Structures.

 


See the Impacts



Read select case studies on completed Ohio Historic Preservation Tax Credit projects from around the state. 

 

 

See the complete list of Ohio Historic Preservation Tax Credit projects completed and underway.  

 


Learn More About Historic Preservation Tax Credits



Learn more about Heritage Ohio’s Tax Credit educational opportunities.  

Looking to learn more about historic preservation and community revitalization? We offer free monthly webinars on a wide range of topics that beginners and experts alike will find educational and fun. You can view many of our past webinars on our YouTube channel.


Historic Tax Credits 201 Webinar

Monday, April 27th – 1:00 pm – 2:00 pm

This is a good time to learn a little more about how the historic tax credits work in Ohio.

How do you assemble the right professional team? Who are the players in making these projects work? Join our team presentation to learn how.

In this 60-minute presentation you will meet experts in these areas and be able to ask questions.

There are no better financial incentives available. You CAN take advantage of these.

Presenters

  • Chad Arfons – Attorney with McDonald Hopkins
  • Alyssa McClanahan – Historic Preservation Consultant with Kunst
  • Paul Nadin – Accountant with RSM US

Historic Tax Credits 101 Webinar

Monday, April 20th – 1:00 pm – 2:00 pm

This is a good time to have a primer on how the historic tax credits work in Ohio. What are historic rehabilitation tax credits? What are they worth ?
Are you curious if these credits are the right incentive for your project?
Join our team presentation to learn how:

1. Basic qualifying – generally the most direct path is being listed on the National Register, find out if you are, if not how do you get listed? – Barbara Powers, State Historic Preservation Office

2. The 20% Federal Historic Tax Credit has been round for 40 years. – Mariangela Pfister, State Historic Preservation Office

3. The 25% Ohio Historic Preservation Tax Credit has been around for 13 years. – Lisa Brownell, Ohio Development Services Agency

In a quick 60-minute presentation, you will meet the people who run the program, get to know them, and be able to ask questions.

There are no better financial incentives available, you CAN take advantage of these.

Historic Tax Credits 201 will be presented the following Monday, April 27 at 1:00 pm.

YOP: Collaborative Coloring Book

Saturday, January 26, 2019 at 1 PM – 4 PM

Join us to create a collaborative coloring book! We need your help to draw images of historic places in Ohio, that have been revitalized thanks to historic tax credits. No need to worry about your artistic skill level, because we will have tracing paper and printed images of buildings. Trace a building and add your own artistic flare.

Make sure to sign your drawing, because all of our illustrators will receive recognition in the coloring book.

This will be a fun opportunity for you to learn a bit about historic tax credits, learn cool new uses for old buildings, and flex your artistic muscles.

We will be at the Main Branch Columbus Metropolitan Library (96 S Grant Ave, Columbus, OH 43215)  in meeting room 3A.

People of all ages are welcome to participate in YOP activities.

For more information about YOP and updates on this event check out their Facebook page

 

 

Notes on the 20% tax credit: when your project starts matters

As you know (especially if you took an active role in our recent advocacy push) the preservation community managed to save the 20% rehab tax credit when sweeping tax reform was passed last month. But what does that mean for rehab projects going forward? As we transition to a credit that pays out 4% of the credit per year for 5 years (once the building is placed in service), however, the bigger question may be, when do rules for the new credit go into effect?
If you’re planning to start a project, and were hoping to take advantage of the prior credit provisions, here are two important points to keep in mind: 1) you needed to be the building owner by December 31, 2017, and 2) you need to begin work (incurring expenses on the project) no later than 180 days after the legislation went into effect (prior to the end of June).
Of course, buying or leasing a property now automatically puts you into the new 20% tax credit rules, but if you were looking to start turning dirt on a project from 2017 or before, be aware that the clock is ticking.

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The future of the 20% rehab tax credit: brighter than I thought

If you’re like me, you’ve probably got a favorite Oscar Wilde quote. One of his memorable thoughts that has stuck with me through the years is this one, defining a cynic as someone “who knows the price of everything and the value of nothing.” So today, I want to do just a little gentle revision to Wilde’s quote to read:
Beware the politician who knows the price of everything and the value of nothing.
And why am I picking on politicians as a group (and specifically our Congressional body)? Because the 20% rehab tax credit is on the chopping block, courtesy of those men and women in Congress.
Why? Not because it’s an overly onerous regulation (it’s a voluntary tax incentive), not because it’s a drain on the federal treasury (in fact, the latest NPS report on the credit states the credit has generated 29.8 billion dollars in federal tax revenue, against 25.2 billion dollars paid out, over the course of the credit’s existence), not because it’s a job killer (when $1,000,000 spent on rehab creates more jobs than $1,000,000 spent on new construction), and not because Republicans today are trying to do right by the legacy of Reagan (indeed, Reagan talks up the tax credit in a clip, jazzed up with some National Trust commentary, here). And not because new construction is such a boon to payroll tax receipts. The opposite is true, but you’d think keeping an incentive that boosts payroll tax, creates jobs, and does our collective heritage right would be a no-brainer.

The rehab tax credit? It’s a great program! I’m afraid we’ll have to kill it.


No, I think it’s on the chopping block because we, as regular citizens, need another reason to plant our collective face in our palms while we mutter about the utter lack of common sense in DC. When it comes to tax credits at the federal level, the fewer the better, whether or not they help inject serious capital into worthwhile redevelopment projects, whether or not they bring more net dollars into the treasury than they cost, whether or not they help save a bit of our collective history here and there. It’s enough to make me want to beat my head against a wall at the sheer lack of thoughtfulness, or careful evaluation to determine where tax credits actually make sense for the greater good, and to keep those tax credits in place, much like the administration and Congress have done with the affordable housing tax credit.
So, while I’d like to think that politicians can be brought back to reality, and that if enough people explain the benefits of an incentive program that they’ve obviously missed or glossed over, the 20% rehab tax credit will be inserted with haste back into the tax bill, my personal outlook on this happening is very gloomy. I’m guessing that the people in power made up their minds long ago on who wins and who loses in the incentives game, and no amount of good information is going to change the outcome.
I think we’re right, as preservationists. I think we’re on the right side, and we’re going to lose anyway. And that reality of the political process just ups my level of pessimism when it comes to politics, making me into that cynic that Wilde was warning you about.
Update 1/4/2018: So, we all know what happened: the 20% tax credit was not killed, but saved, in the tax reform legislation. Politicians went to work, the DC sausage machine cranked up, and in the end we got a new tax law. Sure, maybe we got tax credit links when we were expecting patties. And, maybe we were expecting five, and only got four, but we have our sausage, er, tax credit incentive, still intact, and still a very strong tool in our redevelopment toolbox. Now, it’s just up to the smartest preservationists in the room to figure out how to maximize the effectiveness of the tax credit going forward.
With that in mind, the National Trust has scheduled a “Now What?” webinar to give us an understanding of how the revamped tax credit will likely operate going forward, and whether we can all take a breather regarding tax advocacy (Hint: No). We hope to “see” you there!
Tuesday, January, 2pm EST
Free Webinar:  Understanding the Historic Tax Credit Post Tax Reform
To register, visit: https://attendee.gotowebinar.com/register/7285418309228831490
On December 19th, 2017, Congress once again acknowledged historic preservation as a valuable economic development tool when it retained the 20% Historic Tax Credit in its tax bill.  The credit’s retention is a significant accomplishment for preservationists, architects, contractors, mayors, Main Street organizations, developers, and property owners of historic buildings in towns across America.
Join this webinar to hear a recap of the bill’s provisions, the possible impacts of phasing on historic rehabilitation projects and the potential legislative vehicles that might be available in the remaining months of the 115th Congress to make changes.

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HISTORIC TAX CREDIT COFFEE IN NORTHWEST OHIO

MONDAY June 19, 2017
HISTORIC TAX CREDIT COFFEE

 
Have you been wondering about historic tax credit programs here in Ohio?
Wondering about the application and review process? Here is an easy introduction to the 20% federal historic tax credit and 25% Ohio historic preservation tax credit which you can use to rehabilitate your historic building.
Come chat at a quick informal get together to learn about how the historic tax credit programs work and meet the people who manage them.
 
 
9:00- 10:00          Upper Sandusky: Wyandot Chamber of Commerce, 108 East Wyandot Avenue
 
11:30- 12:30         Kenton: Jitters Coffee Company, 23 North Detroit Street
 
2:30-3:30              Wapakoneta: Marley’s Downtown, 15 Perry Street
 
5:00 – 6:00           Lima: The Met, 306 North Main Street

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The Tax Credit Roundup

We’re celebrating the most recent announcement of Ohio Historic Preservation Tax Credit awards (Round 15, for those of you keeping score). Here’s a selection of newspaper articles from across the state, highlighting some of the award recipients and their projects.
This cincinnati.com article provides an overview of the Cincinnati projects receiving credits.
Check out an overview on Cleveland projects from Crain’s here.
In Cleveland, the downtown Huntington Building will use its $25 million catalytic award to help defray a $270 million project. Read more here.
An iconic Bexley movie theatre is among the Columbus-area projects to benefit from the latest OHPTC round. Read more here.
Dayton’s long-neglected Steam Plant will receive tax credits to spur its redevelopment.
In Eaton, a former high school will be converted into senior housing.
Downtown Newark’s Brunswick Building is slated for redevelopment.
Wittenberg joins a growing list of Ohio universities utilizing tax credits to redevelop their historic buildings. Read more here.
For the basics of the program, you can learn more at ODSA’s website here.

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