38 Projects Receive HPTCs; Program Set to Expand for Two Years

This week, the State of Ohio awarded Ohio Historic Preservation Tax Credits to 38 projects around the state, providing nearly $40 million in credits to projects in 19 communities located in 16 counties. This comes on the heals of the enactment of Senate Bill 225, a bill which will double the number of Historic Preservation Tax Credits for the next two years, beginning in Fiscal Year 2023.

The Ohio Historic Preservation Tax Credit Program (HPTC) provides a tax credit in order to leverage the private redevelopment of historic buildings. The HPTC, which is jointly administered by the Ohio Department of Development and the Ohio History Connection's State Historic Preservation Office, helps to preserve and transform the unique spaces, beautiful historic downtowns, and commercial corridors that give our communities character.

Many of the approved projects this week are found in Ohio's Small and Mid-sized Legacy Cites. As Ohio's leading advocates for legacy city issues, GOPC knows that many communities have large buildings that have falling into disuse, but could really catalyze and attract substantial private investment in surrounding blocks. Legacy City projects receiving credits this week include:

• Wholesale Grocer - Marion, Ohio

Located in the cities newly designated downtown historic district, which overlooks Founder's Park, the Wholesale Grocer was originally a warehouse, with storefronts that were added later. Apartments filled the second and third floors. After rehabilitation, the building will house five apartments with a winery on the ground floor in addition to two other commercial spaces.

• Dixon Building - Elyria, Ohio

The Dixon Building sits facing Ely Park at the center of downtown Elyria. In addition, the project also includes the adjacent Robinson building and a new apartment/commercial building that will be built in the next block. The Italianate-style building, constructed in 1873, will become home to a unique e-sports facility that will include arena space, offices, studios, and classrooms. In the new building, there will be 51 apartments over a first-floor wine bar.

• 111 W. Main Street, 135 E. Main Street, 101-107 W. Main Street, 223 E. Main Street - Van Wert, Ohio

These three projects are part of the larger downtown Van Wert revitalization effort, which was recently recognized by GOPC as the winner of our Private Sector Champion award at the 2022 Greater Ohio Summit. Van Wert Forward, a for-profit subsidiary of the Van Wert Foundation, has purchased 52 buildings in downtown Van Wert and is systematically renovating them for the community's prosperity. All of these spaces will be renovated to create ground floor retail/commercial space along with apartment space in the upstairs.

• Schine State Theatre - Sandusky, Ohio

The Schine State Theatre in downtown Sandusky has been continuously serving the community since its construction in 1928. Damage to the roof and walls from a storm in 2020 caused the theatre to close and undertake the rehabilitation project. The stage house will be reconstructed to match the original that was destroyed, and the theatre's audience chamber will undergo a thorough restoration.

• City Electric Light Plant - Marietta, Ohio

Built in 1900 as the City Electric Light Plant, this downtown Marietta building also had office space used as police headquarters and a printing operation. Over time, the space was occupied by the Chamber of Commerce before the current owners, the Plumbers and Pipe Fitters Local Union 168, moved in over 50 years ago. The current owners will be rehabilitating the building to more effectively meet their contemporary needs while retaining the building's historic character.

• Middletown Building & Deposit Association - Middletown, Ohio

This former bank and office tower in downtown Middletown has been vacant for many years. Built in 1930, the Art Deco building is one of the city's important landmarks. Much of the historic architectural features remain in the banking hall on the first floor and distinctive exterior features such as ornamental metalwork, lighting, and stonework will be repaired and retained. Once complete, the building will hold 21 apartments on floors two to seven with office space on the first floor.

Beginning in September, the HPTC program will double, with $120 million in tax credits being available in Fiscal Years 2023 and 2024 thanks to the enactment of Senate Bill 225, which was signed on June 13. The bill will also increase (to 35% of available funds) grants available to communities with populations of 71,000 or less.

Click here to see all of the projects which will receive HPTCs. To learn more about Senate Bill 225 and the expansion of the HPTC program click here.

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