CDBG funding for Downtown Revitalization
Wednesday, April 10th – 1:00 pm-2:00 pm
The Office of Community Development will administer a restructured Downtown Revitalization Program in PY 2019. Funds will now be awarded on an open-cycle schedule through application to the Target of Opportunity Program. This session will explain the new program structure, funding parameters, and application requirements. Eligible applicants are restricted to Community Development Program recipients. Cities and villages are encouraged to apply through their counties of jurisdiction.
Speaker
Mary Oakley
Mary Richards Oakley has been employed by the Ohio Development Services Agency’s Community Services Division since 1998. Mary serves as the Community Investments Manager for the Office of Community Development. In this capacity, Mary is responsible for oversight of more than $60 million in Community Development Block Grant (CDBG), Ohio Housing Trust Fund, Appalachian Regional Commission, and Brownfield Revolving Loan funds annually. Programs under her jurisdiction include: Community Development, Critical Infrastructure, and Neighborhood Revitalization; Economic Development and Revolving Loan Fund; Residential Public Infrastructure; and Target of Opportunity and Downtown Revitalization. Mary earned a Bachelor of Science degree in Economics and German from Centre College in Danville, Kentucky and graduated from The Ohio State University’s Masters Program in City and Regional Planning.
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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.
Ohio DSA announces Round 11 tax credit recipients
Today the Ohio Development Services Agency announced that 31 buildings in 10 different communities received allocations of the Round 11 tax credits. As in past rounds, the credits were divided for projects throughout the state (although the northwest and southeast regions were absent from this round). While few dispute the power of the credits in making multi-million dollar rehabilitation projects possible (with three separate projects taking the maximum $5 million per project), the state continues to work to make sure smaller projects don’t fall through the cracks. This round of credits included a $65,000 rehab project in Wilmington. The Wilmington project is slated to receive $13,825. You can read the ODSA press release here.