The Ohio Development Services Agency awarded $36,057,985 in Ohio Historic Preservation Tax Credits for the rehabilitation of 28 historic buildings. Together, the projects are expected to leverage approximately $250 million in private investments in 10 communities.
The awards include a project in one new community (Medina), bringing the total number of Ohio communities with historic preservation tax credit projects to 68.
Locally, the Hughes Building (St. Clairsville, Belmont County) was awarded a rehabilitation project. The building is located at 147 E. Main St., St. Clairsville. The total project cost is $662,300 with a total tax credit of $149,496. The Hughes Building is located in the downtown commercial area. Vacant for approximately three years, the building will become a restaurant with two apartments above it. The upper floors have been vacant for decades but retain much of their original historic fabric, which will be repaired and retained.
"Giving these buildings new life preserves Ohio's past and provides economic opportunity for the future," said David Goodman, director of the Ohio Development Services Agency. "These buildings are expected to be a catalyst for development in the community."
The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity. Once rehabilitated, they will drive further investment and interest in adjacent property. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.
The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection's State Historic Preservation Office. The State Historic Preservation Office determines if a property qualifies as a historic building and if the rehabilitation plans comply with the U.S. Secretary of the Interior's Standards for Rehabilitation.
The Round 21 Ohio Historic Preservation Tax Credit recipients are: