DAYTON, Ohio (WDTN) — Governor DeWine and Lt. Governor Jon Husted announced that the state will aid in the rehabilitation of 38 historic buildings by offering nearly $40 million in tax credits as part of the Ohio Historic Preservation Tax Credit Program.

In total, the Ohio Department of Development is awarding $39,874,792 in Ohio Historic Preservation Tax Credits for rehabilitation projects in 19 communities across 16 counties, according to a June 22 release.

“Preserving historic buildings is one tool we can use to build vibrant downtowns and create opportunity on our main streets throughout the state,” Governor DeWine said.

“These projects are just one piece of the larger picture to transform our communities and create even more exceptional places to live and visit.”

The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods, many of which are currently vacant and generating little economic activity. Once rehabilitated, the release says these historic buildings will drive further investment and interest in adjacent property. 

“Historic tax credits create value for communities by attracting investment that would not make sense otherwise,” said Lt Governor Jon Husted.

“Almost every legacy city in Ohio has a great old building that they wish someone would revitalize because it’s important to the community’s history and future—Historic Tax Credits make this hope a reality.”

Developers are not issued the tax credit until project construction is complete and all program requirements are verified. Together, the projects are expected to leverage approximately $564 million in private investments.

“Once restored, these sites are often crown jewels for communities,” Lydia Mihalik, director of development, said.

“We are proud to be part of the transformation and preservation of these unique spaces that will remain in our communities for years to come.”

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.

Questions related to specific projects should be directed to Public Information Officer Megan Nagy at megan.nagy@development.ohio.gov.