Can you credit? History ?
July 20, 2009 at 9:42 pm
From Heritage Ohio
ED NOTE: Emphasis mine
We are thrilled to announce that this morning two amendments passed in the budget bill signed by Governor Ted Strickland ensuring that Ohio’s historic preservation tax credit program will continue to work for Ohio citizens.
Introduced by Senator Kirk Schuring (Canton) two sets of statutory amendments will serve as a national model for spurring HTC-related development:
Special allocation of tax credits
Ohio HTC loan guarantee program
The Historic Tax Credit Program is Good for Ohio
Ohio’s Historic Tax Credit programs create interesting places to work, live and play for the creative class and all Ohioans:
Approved HTC projects represent over $1 billion in construction costs, generating hundreds of millions in increased State and local taxes.
Tax credits are not issued until after project completion, but significant tax revenues are generated as soon as construction begins.
For each $1.00 of Ohio HTC, $5.44 of private funding and federal tax credits are expected to be leveraged. (ODOD’s Ohio HTC Program 2008 Annual Report)
Heritage Ohio salutes our board members, our volunteers, Senator Kirk Schuring and Governor Strickland for their dedication to Ohio’s cultural heritage and economic well-being!
Have questions about Ohio’s Historic Preservation Tax Credits? Contact our offices today!
Heritage Ohio was developed as a statewide, not-for-profit organization dedicated to encouraging and assisting people and organizations to protect and preserve our heritage. Historic preservation and downtown revitalization are vitally important in the movements to protect the buildings, landscapes, art, artifacts and landmarks we have inherited.
846 1/2 East Main Street
Columbus, OH 43205
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