Community  |  Community Grants, Loans, Bonds, and Tax Credits

Ohio Historic Preservation Tax Credit
Community » Community Grants, Loans, Bonds, and Tax Credits » Ohio Historic Preservation Tax Credits

Ohio Historic Preservation Tax Credit Program

 

Contact information

Nathaniel Kaelin
Ohio Historic Preservation Tax Credit Program Manager
Office of Strategic Business Investments
Business Services Division
(614) 728-0995
Nathaniel.Kaelin@development.ohio.gov

Round 16 Schedule: Spring 2016

  • Intent to Apply/SHPO Pre-App Meeting Request Deadline: February 16, 2016
  • Historic Documentation (Part 1 and 2) Deadline: February 29, 2016
  • Application Submission Deadline: March 31, 2016
  • Application Review Period: April 1 – June 1, 2016
  • Approved Applications Announced: on or before June 30, 2016

Round 17 Schedule: Fall 2016

  • Intent to Apply/SHPO Pre-App Meeting Request Deadline: August 15, 2016
  • Historic Documentation (Part 1 and 2) Deadline: August 31, 2016
  • Application Submission Deadline: September 30, 2016
  • Application Review Period: October 1 – December 1, 2016
  • Approved Applications Announced: on or before December 31, 2016

Round 16 Applications Under Review

The Ohio Development Services Agency and our partners at the State Historic Preservation Office are reviewing 44 applications for 71 historic buildings in Round 16 of the Ohio Historic Preservation Tax Credit program. Together, the applications are requesting a total of $64.7 million in tax credits. Applications were received from 18 Ohio communities, including eight communities new to the program.

A total of $25 million in tax credit allocation is currently available for Round 16 applicants. Approved applications will be announced no later than June 30, 2016.

For applicants interested in applying during Round 17 in fall of 2016, the schedule is visible on the right hand side of this page. The Round 17 Intent to Apply form will be available online in June, but applicants are encouraged to contact the Ohio Development Services Agency and the State Historic Preservation Office if they wish to discuss their project in advance of this release.

To discuss a potential project or arrange a pre-application meeting with the State Historic Preservation Office, please contact Lisa Brownell at lbrownell@ohiohistory.org or 614-298-2000.

Overview

The Ohio Historic Preservation Tax Credit Program provides a tax credit in order to leverage the private redevelopment of historic buildings. The program is highly competitive and receives applications bi-annually in March and September.

Over the fifteen completed funding rounds, tax credits have been approved for 284 projects to rehabilitate 398 historic buildings in 52 different Ohio communities. The program is projected to leverage nearly $4.4 billion in private redevelopment funding and federal tax credits directly through the rehabilitation projects.

For Whom

Owners and long-term lessees of historically designated buildings who undertake a rehabilitation project may apply for the Ohio Historic Preservation Tax Credit. A building is eligible if it is individually listed on the National Register of Historic Places; contributes to a National Register Historic District, National Park Service Certified Historic District, or Certified Local Government historic district; or is listed as a local landmark by a Certified Local Government. Properties that will be used as a single-family residence or multi-family residential condominiums are not eligible.

Benefits

The Ohio Historic Preservation Tax Credit Program provides a state tax credit up to 25 percent of qualified rehabilitation expenditures incurred during a rehabilitation projects. Applicants are eligible for no more than $5 million in tax credits unless approved as a catalytic project. The tax credit can be applied to applicable financial institutions, foreign and domestic insurance premiums or individual income taxes. Applicants that complete their project and receive a tax credit certificate with an effective date prior to June 30, 2017 can apply the tax credit against applicable commercial activity taxes.

How to Apply

Applications are received bi-annually in March and September for the Ohio Historic Preservation Tax Credit. Applicants file a competitive application with the Ohio Development Services Agency and applicable historic rehabilitation documentation with the State Historic Preservation Office. All applicants are required to schedule a pre-application meeting with the State Historic Preservation Office prior to submitting an application.

Round 15 Awards Announced

The fifteenth round of Ohio Historic Preservation Tax Credit awards were announced in December 2015 at the Drexel Theatre in Bexley. The 34 new projects awarded bring the total number of projects supported by the program to 284. These projects are located in 52 communities around the state. Click here for a list of approved Round 15 projects.

Pipeline Initiative Accepting Applications

Applications are being accepted for the Ohio Historic Preservation Tax Credit Pipeline Initiative. The application form can be downloaded under 'Pipeline Initiative' in the left-hand menu above.

The primary goal of the Pipeline Initiative is to develop a pipeline of properties that are eligible for redevelopment assistance through the Ohio Historic Preservation Tax Credit program. The initiative provides funding and technical assistance to assist in nominating buildings, districts, and areas to the National Register of Historic Places. Funding will be prioritized for projects that create the greatest potential for commercial and multi-family housing redevelopment. Four project types, as defined in the application document, will be eligible for grant funding.

Applications are accepted on an open-cycle and funded on a first-come, first-served basis, based on funding availability. Please see the application document for additional funding determination guidance. Prior to submitting an application, all applicants are required to discuss their project with program staff. Please contact the Lisa Brownell at lbrownell@ohiohistory.org or (614) 298-2000 for more information or to discuss a potential project.