APOhio News

Ohio agency awards nearly $23M in preservation tax credits

COLUMBUS, Ohio (AP) – The state is awarding $22.8 million in tax credits to help rehabilitate 33 historic buildings throughout Ohio.

The Tuesday announcement by the Ohio Development Services Agency includes a $5 million preservation tax credit for a project to create offices, retail space and apartments in downtown Cleveland at a former department store, the Halle Building.

Lima will receive more than $2.3-million to renovate the National Bank Building into an apartment complex.

The agency says the projects in the latest round of credits are expected to bring about $225 million in private investment in a dozen communities. The projects are in Cincinnati, Cleveland, Columbus, Dayton, Delaware, Hamilton, Kent, Lima, Newark, Sandusky, Tiffin and Xenia.

Developers won’t receive the credits until they finish the projects and meet certain program requirements.

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