Ohio preservation tax credit application period open

The application period for the tenth round of the Ohio Historic Preservation Tax Credit (OHPTC) program is now open, with a total of $30 million being made available.

The bi-annual OHPTC program provides 25 percent of qualified rehabilitation expenditures to owners or lessees of buildings located on the National Register of Historic Places or within a National Register Historic District, a National Park Service certified historic district, a Certified Local Government historic district, or is listed as a local landmark by a Certified Local Government.

Applications are due by 5 P.M. on April 2, and awardees will be announced on or before June 30.

Applications also are being accepted for the new OHPTC Pipeline Pilot Initiative, which aims to build a pipeline of OHPTC-eligible project by providing funding and technical assistance to assist in nominating buildings, districts, and areas to the National Register of Historic Places.

Pilot projects will be accepted on an open cycle and will be funded on a first-come, first-served basis, based on funding availability.

Over the first nine funding rounds, $328.4 million in Ohio Historic Preservation Tax Credits have been approved for 157 projects to rehabilitate 229 historic buildings in 24 communities. More than $2 billion in private redevelopment funding and federal tax credits is expected to be leveraged through the state's investment.

In the previous funding round, awarded by the Ohio Development Services Agency on Dec. 20, six Cincinnati projects won nearly $8 million in tax credits as part of a 23-project, $35.8 million disbursement.

Previous reading on BC:
Tax credits sought for Bartlett Building hotel (3/6/13)
County, 3CDC to explore feasibility of Memorial Hall renovation (3/5/13)
Kirby Road School a local landmark, rehabilitation proceeding (3/5/13)
OTRCH gets tax exemption for senior supportive housing (1/16/13)
6 Cincinnati projects awarded nearly $8M in state historic tax credits (12/28/12)