$50M approved for Ohio historic preservation including two Mahoning Valley buildings
Ohio Gov. Mike DeWine approved $56 million in tax credits to preserve 42 buildings across the state, including two in the Mahoning Valley.
Historic Preservation Tax Credit program is part of Gov. DeWine and the Department of Development’s efforts to support the rehabilitation of historic buildings across the state.
“By preserving our historic buildings, we’re retaining the unique identity of Ohio’s communities,” said Gov. DeWine. “Through the tax credit program, we’re ensuring that future generations can experience the character and stories that shaped our state in the spaces where they happened.”
Among the 15 communities receiving tax credits are Akron, Barberton, Cincinnati, Cleveland, Columbus, Cuyahoga Heights, Dayton, Hamilton, Marion, Middletown, Niles, Steubenville, Toledo, Wellington and Youngstown.
“Communities thrive where they honor their roots,” said Lydia Mihalik, director of the Department of Development. “The awards we are making through the Ohio Historic Preservation Tax Credit Program are helping communities in their efforts to connect their past with opportunities of the future.”
Mahoning Valley historic projects
In Youngstown, Gov. DeWine approved $2 million to restore the Central Tower at 1 W. Federal St., the city’s tallest building.
The total project is expected to cost around $20.2 million.
The Central Tower originally served as the headquarters for the Central Savings and Loan Company.
This project aims to rehabilitate the tower into a mixed-used building with 64 apartment units on the upper floors and office space on the lower floors to add much-needed housing to Youngstown’s downtown district.
In Niles, Gov. DeWine approved $1.16 million for a restoration project at the Niles Masonic Temple.
The project aims to transform the space into a mixed-use facility focused on meeting social and community engagement as well as economic activity.
The restoration of the temple’s architecture will allow it to transform into a multipurpose space for the community.
The Niles Masonic Temple was built in 1922 and used by the Mahoning Lodge No. 394.
What is the Historic Preservation Tax Credit?
The 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.
“Rehabilitation of historic buildings through the historic program and federal historic tax-credit programs revitalizes main streets, helps the environment by reusing a structure that is already built and creates 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.
