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Economy and Business


Latest round of state tax credits for historical building renovation could be the last
13 projects awarded statewide, 5 in Northeast Ohio
by WKSU's KEVIN NIEDERMIER


Reporter
Kevin Niedermier
 
Governor Strickland announces the latest round of Ohio Historical Preservation Tax Credits in Downtown Cleveland.
Courtesy of Kevin Niedermier
In The Region:
More than a dozen Ohio Historic Preservation Tax Credits were awarded to re-development projects across the state today. The tax breaks help generate other investment in the renovation of historic buildings. Backers say the tax incentives also create jobs. But this round of awards could be the last.
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The backdrop for the announcement was the Schofield Building (center)
which is being converted into a luxury hotel.  The project received $5 million dollars in tax credits.
Just down the street is the  "668 Building."  It was the old Taylor & Sons department store.  Developer, the K&D Group, converted it into an apartment building with the help of over $16 million in Ohio Historical Preservation Tax Credits.  The building opened earlier this year and is 100% occupied.
The 668 Building
13 projects from across the state received Ohio Historical Preservation Tax Credits in this latest round.
Several dozen people listened as Governor Strickland announced the latest round of Ohio Historical Preservation Tax Credit awards in downtown Cleveland.
Architect Jonathan Sandvick
is working on the Schofield Building renovation.

Related Links & Resources
Ohio Historical Preservation Tax Credit

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