The Ohio Development Services Agency recently awarded $22.8 million in Ohio Historic Preservation Tax Credits to 18 applicants planning to rehabilitate 33 historic buildings. Together, the projects are expected to bring approximately $225.6 million in private investment in 12 communities.
“A community’s historic buildings make it unique,” said David Goodman, director of the Ohio Development Services Agency. “Giving a building new life honors the history of the building, while creating construction jobs in the short term and opportunity for economic activity into the future.”
The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. The renovated buildings 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 that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.
Round 17 Ohio Historic Preservation Tax Credit recipients:
Stratford M.E. Church (Delaware, Delaware County)
Total Project Cost: $996,758
Total Tax Credit: $191,538
Address: 2960 Columbus Pike, 43015
Built in 1843 to serve members of the small mill community of Stratford, south of Delaware, the Stratford M.E. church remained active until 1958. Aside from some marginal uses and maintenance, it has been mostly vacant. After rehabilitation, the church will become the offices for David Kerr Architect LLC. The historic sanctuary space will be retained and the original stone walls repaired.
Budd Dairy/174 Detroit (Columbus, Franklin County)
Total Project Cost: $24, 928,750
Total Tax Credit: $1,999,000
Address: 1086 N. Fourth St. and 174 Detroit Ave., 43201
This project will rehabilitate two historic buildings in Columbus’ Italian Village neighborhood and includes new construction residential buildings on the sites as well. The Budd Dairy building, which served as a milk processing and distribution facility for decades will be rehabilitated for a variety of restaurant and commercial uses. The vacant warehouse at 174 Detroit will be rehabilitated into 20 apartments.
Newark High School (Newark, Licking County)
Total Project Cost: $2,995,000
Total Tax Credit: $260,000
Address: 112 W. Main Street, 43055
The former Newark High School, two blocks west of the courthouse square, will be rehabilitated into 30 market rate apartments. Many of the historic features remaining from its use as a school will be maintained such as chalkboards, wood trim, stairways, and corridors. Vacant since 2012, the building will contribute to redevelopment efforts in downtown Newark.
Information for this story was provided by the Ohio Development Services Agency.