The Dollars and Sense of Building Rehabilitation- Athens August 12, 2013
For communities and building owners who want to know more about successful building rehabilitation.
First the community needs to set the stage, and create an environment where building rehabilitation is understood and encouraged.
Second, building owners need to understand how to deal with historic buildings and what tools are available to help.
Learn how you can be more successful at rehabilitating your historic buildings.
Register for this workshop HERE
Still, Downtown is the Best Community Investment
Every month, ever year, since 1998, we have required the Ohio Main Street Communities to submit monthly reinvestment statistics. We do this because we stand behind the Ohio Main Street Program and we know the numbers will justify the effort. We also do it, so when we seek new legislation from our state legislators, we can prove the impact of downtown revitalization. The Ohio Main Street Communities use these figures to garner local support and for their own advocacy efforts.
In 2012, 26 Ohio Main Street Communities reported their reinvestment statistics. There were 104 facade improvements undertaken, totaling over $5 million. Eighty buildings were rehabilitated at the cost of amost $15.5 million. Over $40 million was invested in new construction in these districts and 44 pubic improvement projects added another $2.8 million to the totals. Two hundred and eight new business opened adding an additional 536 full-time employees and 600 part-time employees. Amazingly 84,536 vollunteer hours were logged in these 26 communities. The total investment was over $63 million. Considering the average Main Street budget of around $130,000, for every $1 invested in a Main Street Program, there was $18 reinvested in the district.
When we compile the numbers from 1998 to 2012, they tell a pretty amazing story of the impact of the Main Street Program. Ohio Main Street Communities have added over 1000 net new businesses. Those businesses have created over 4,000 net new full-time jobs and over 3,000 net new part-time jobs. A stunning total of $821,738,306 has been invested in these districts. More than 660,000 volunteer hours have been donated to these organizations which is valued at $12,454,200. Other economic development programs would be hard pressed to boast such numbers as 1 new full time job for every $8,500 invested. The average investment per community is almost $2.5 million and that for every $1 invested in the local budget, $23 is reinvested in the district.
These statistics are a testament to the power of the Ohio Main Street Program. When considering we have experienced two recessions in the last fifteen years and the last five have been historically bad, we can unequivocally say, downtown revitalization is an investment every community should make.
Ohio Historic Preservation Tax Credits Round 9 Now Open for Applications
The application period for Round 9 of the Ohio Historic Preservation Tax Credit program is now open. The application form and self-scoring sheet can be downloaded under ‘General Program Forms’ on the program website: http://development.ohio.gov/Urban/OHPTC/. A total of $30 million in tax credit allocation is currently available for Round 9 applicants.
All applicants are required to schedule pre-application meetings with both the Office of Redevelopment and the Ohio Historic Preservation Office prior to submitting an application. Applicants are encouraged to contact both offices early in the application submission period to schedule the meetings to ensure availability. The Ohio Historic Preservation Office can be contacted by calling 614-298-2000.
Please note that applications must be submitted (not postmarked) to the Office of Redevelopment by 5:00 p.m. on Monday, October 1, 2012.
Round 9 will be administered on the following schedule:
– Application Submission Deadline: October 1, 2012
– Application Review Period: October 2 – December 17, 2012
– Approved Applications Announced: on or before December 31, 2012
Please contact Nathaniel Kaelin at nathaniel.kaelin@development.ohio.gov if you have any questions about the application and to schedule a pre-application meeting. Thank you for your interest in the Ohio Historic Preservation Tax Credit Program.