COLUMBUS — The Ohio Building renovation is getting a boost thanks to a historic preservation tax credit from the state of Ohio.
Ohio Gov. Mike DeWine, Lt. Gov. Jon Husted, and Ohio Department of Development Director Lydia Mihalik announced state support for 38 historic preservation projects that will rehabilitate 59 historic buildings across Ohio. The projects are expected to leverage approximately $523 million in public and private investment.
The projects are being awarded funding as part of the Ohio Historic Preservation Tax Credit Program (OHPTC), administered by the Ohio Department of Development. Sixteen communities across the state are receiving awards totaling $50,560,036 in tax credits.
The Ohio Building, located at 113 N. Ohio Ave., will receive a tax credit of $1,800,000. The total project cost is $11,228,850. The building, which was owned by the city of Sidney, was recently sold to Woodard Development, of Dayton, a private developer.
Constructed in 1923, the five-story Ohio Building originally housed businesses and office space with the Venus Chocolate candy manufacturing facility occupying the rear. The building later hosted a variety of tenants, including a prominent pool hall and bar, but has been vacant for many years. The project will rehabilitate the site into a mixed-use development featuring first-floor retail space and housing on the upper floors, lending to the urban style living trend in downtown Sidney.
“Ohio’s history is rich with innovation,” said DeWine. “Many of these buildings were once home to the factories, shops, and offices that drove Ohio forward, and they still have a place in Ohio’s future. We are excited to help revive these historic structures so they can once again be a valuable part of their communities.”
“One of the virtues of this program is the ability to preserve our historic buildings while investing in the future,” said Husted. “What was old is now new, cool, and vibrant.”
The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity. Once rehabilitated, they will 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.
“Historic preservation is at the heart of opportunity across our state,” said Lydia Mihalik, director of the Ohio Department of Development. “By revitalizing our historic assets, we’re bringing new life to and invigorating our downtowns, and creating hubs for economic activity across our state.”
Of the 16 communities receiving OHPTC tax credits, three of them – Caldwell, Sidney, and Willoughby – are first-time award recipients.
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.
“The rehabilitation of historic buildings can revitalize main streets, help save the environment – because nothing is greener than using what is already built — and create jobs, with the added bonus of preserving local history,” said Mariangela Pfister, Department Head and Deputy State Historic Preservation Officer for Technical Preservation Services in the Ohio History Connection’s State Historic Preservation Office. “Projects awarded this round could transform a historic school, carriage company, theater, church, market, and bank into modern residential units, restaurants, and office space, all while preserving what makes them historic.”
The Ohio Department of Development empowers communities to succeed by investing in Ohio’s people, places, and businesses. Learn more about our work at development.ohio.gov.
The Ohio History Connection, formerly the Ohio Historical Society, is a statewide history organization with the mission to spark discovery of Ohio’s stories. As a 501(c)(3) nonprofit organization chartered in 1885, the Ohio History Connection carries out history services for Ohio and its citizens that are focused on preserving and sharing the state’s history. This includes housing the State Historic Preservation Office and the official state archives and managing more than 50 sites and museums across Ohio. For more information, go to ohiohistory.org. The Greater Columbus Arts Council provides support for Ohio History Connection programs.
