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.

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 (LY’-muh), Newark, Sandusky, Tiffin and Xenia (ZEEN’-yuh).

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