Ohio Governor Mike 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.
One of the projects seeing funding is Black Diamond Development in the Perry County Village of Shawnee. They received a credit of $250,000 tax credit towards an over $2.6m project.
The project application includes two main street commercial buildings in Shawnee’s historic district. One of these buildings, dating to the 1890’s was historically a mixed-use commercial building and houses a bar/restaurant plus two apartments upstairs.
The other building is partially occupied currently with a vacation rental unit, but plans call for two more of those units to be finished on the upper level and the first floor will be renovated for commercial use.
These buildings are the first of several that will be redeveloped in support of Shawnee’s growth as a tourism destination
“Preserving historic buildings is one tool we can use to build vibrant downtowns and create opportunity on our main streets throughout the state,” said Governor DeWine. “These projects are just one piece of the larger picture to transform our communities and create even more exceptional places to live and visit.”
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.
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.