This morning at 10 AM, Ohio Lieutenant Governor Lee Fisher will make an important announcement about the Ohio Historic Preservation Tax Credit (OHPTC) program at the corner of 14th and Vine streets in Over-the-Rhine.
On March 13, the Ohio Department of Development announced that the initial $120 million in funding for the OHPTC program had been exhausted and the two-year pilot program would be closed, after only 37 of the 115 submitted applications were approved.
The program was reinstated as part of Governor Ted Strickland's economic stimulus package and the next funding cycle is reported to begin on July 1, 2009.
Projects that were not funded before the original program closed will be given first priority, and the "first-come, first-served" aspect of the program have been removed.
Each funding cycle will be funded with $120 million, with a $5 million cap per project.
Previous reading on BC:
ODOD: Forcing tax credit approvals would 'offend constitutional separation of powers (5/16/08)
Working group makes recommendations on state tax credit program (4/28/08)
Ohio developers file writ with Supreme Court over tax credit program (4/11/08)
Cincinnati, SW Ohio projects may receive historic tax credits after all (4/3/08)
SW Ohio largely bypassed by failed tax credit program (3/18/08)
Thursday, October 16, 2008
Lt. Gov. Fisher in OTR today to make announcement on historic tax credits
