Round 9 Preservation Tax Credits…making and remaking history
Yesterday the Ohio Development Services Agency (the former Ohio Department of Development) announced the tax credit awards from the 9th Round of the Ohio Historic Preservation Tax Credit. You can read the full release here.
The big projects we’ve seen in the past are back again (Cleveland rehabs account for tens of millions of dollars in project costs); however, we also continue to see the emergence of smaller projects. The Lazarus House Apartments in Columbus will be rehabilitated into three apartment units in Columbus, at a total project cost of $265,860, taking a state tax credit of $46,195. While I love to see big projects such as the East Ohio Building in Cleveland with its 65 million dollar construction impact, I’m even more heartened to see the scale of projects receiving funding. I could envision the Lazarus Apartments happening in any of our Main Street communities, and I know if we can pump more construction investment into our Main Street communities, they will be better positioned to thrive far into the future.
Stay tuned to Heritage Ohio and Ohio DSA for updates on the state tax credit. For now, the next date to remember is March 30, 2013. Round 10 applications are due then.
Best wishes to you for a prosperous 2013 filled with preservation & revitalization!
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.