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June 30, 2017 Newswires
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13 Communities Receive Awards to Rehabilitate Historic Buildings

Targeted News Service (Press Releases)

COLUMBUS, Ohio, June 28 -- The Ohio Development Services Agency issued the following news release:

Today, the Ohio Development Services Agency awarded $34,977,855 in Ohio Historic Preservation Tax Credits to 30 new applicants planning to rehabilitate 36 historic buildings. Together, the projects are expected to leverage approximately $523,148,620 in private investments in 13 communities. This is the first-time historic preservation tax credits have been awarded in Bedford, Fairview Park, Troy, and Urbana.

"Preserving these historic buildings creates opportunities for small businesses and revitalizes downtowns," said David Goodman, director of the Ohio Development Services Agency. "We're capitalizing on what makes Ohio unique."

The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are currently vacant and generate little economic activity. Once rehabilitated, they will drive further investment and interest in adjacent properties. Developers are not issued the tax credit until project construction is complete and all program requirements are verified.

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.

Round 18 Ohio Historic Preservation Tax Credit recipients are: NORTHEAST REGION

172 S. Main Street (Akron, Summit County)

Total Project Cost: $1,249,999

Total Tax Credit: $249,999

Address: 172 S. Main St., 44308

Part of a group of buildings receiving funding on Akron's S. Main Street, 172 S. Main is a two-story, mixed-use building that will be rehabilitated with commercial space on the first floor and residential on the second floor. The lower levels of the building open to the Ohio and Erie Canal Lock 4 Park.

3101 Euclid Avenue (Cleveland, Cuyahoga County)

Total Project Cost: $9,975,150

Total Tax Credit: $1,392,500

Address: 3101 Euclid Ave., 44115

This building was one of the first mid-century office buildings to be constructed in Cleveland's Midtown area during the 1950s. After 15 years of vacancy, the building will be rehabilitated into restaurant and

retail space on the first floor, and 80 market rate apartment units on floors two through nine.

East Boulevard Apartment House (Cleveland, Cuyahoga County

Total Project Cost: $1,567,329

Total Tax Credit: $155,000

Address: 2691 E. 116th St., 44120

This 1927 apartment building has been vacant approximately eight years and has suffered from vandalism and neglect. The building, which retains some classic architectural details, will be rehabilitated into 20 apartments ranging from studios to three bedrooms units.

Kelley Hardware-Odd Fellows Hall (Hayesville, Ashland County)

Total Project Cost: $429,330

Total Tax Credit: $93,833

Address: 7 E. Main St., 44838

Once home to a first-floor hardware store and second-floor meeting hall, the building has been vacant for 10 years on the first floor and more than 50 years on the second floor. The building will be renovated into three apartment units in the village of Hayesville.

Liberty Textiles Building (Cleveland, Cuyahoga County)

Total Project Cost: $25,290,043

Total Tax Credit: $1,996,492

Address: 1277 W. 6th St., 44113

The Liberty Textiles project in Cleveland's Warehouse District will rehabilitate one vacant historic building and construct a new building on what is now an adjacent surface parking lot. The buildings will house 80 new market rate apartments on the upper floors and commercial spaces on the ground floor.

NASA Lewis Research Center - Development Engineering Building and Annex (Fairview Park, Cuyahoga County)

Total Project Cost: $45,496,120

Total Tax Credit: $4,500,000

Address: 21000 Brookpark Rd., 44135

Beginning in 1964, this building was home to NASA engineers. More than 1,000 engineers once worked in the "K" and "L" buildings on the site, but in recent years NASA vacated the space and the buildings remain unused. The renovation plans include 100 market rate apartments, a boutique hotel, and office, meeting and event space. The former auditorium will be preserved as part of the event space and the former launch control room will house an on-site history center.

Standard Savings Bank (Akron, Summit County)

Total Project Cost: $1,249,999

Total Tax Credit: $249,999

Address: 174 S. Main St., 44308

This building is a three-story, mixed-use building that will be rehabilitated with commercial space on the first floor and residential space above. Once home to a bank that closed during the Depression, the building hosted a variety of commercial uses over the years before becoming vacant. It is one of a group of buildings funded this round on Akron's South Main Street.

The Landmark Project (Akron, Summit County)

Total Project Cost: $34,481,219

Total Tax Credit: $4,283,381

Address: 156-160, 164, and 168 S. Main St., 44308

The Landmark Project includes three historic buildings in Akron's South Main Street Historic District. They are Akron Savings and Loan, a 12-story building built in 1923; 164 South Main, a commercial building dating to 1913; and the Osterman Company Building, a commercial/retail building finished in 1905. After rehabilitation, the vacant buildings will have restaurant, retail, and office space on the first floors and 113 apartments on the upper floors.

Trinity Cathedral Church Home (Cleveland, Cuyahoga County)

Total Project Cost: $4,324,275

Total Tax Credit: $249,999

Address: 2227 Prospect Ave., 44115

Once used as a home for elderly women, Trinity Cathedral Church Home was later used as office space for Cleveland State University and Trinity Cathedral Church. Vacant for about 10 years, the building will be renovated into 23 apartments. Many of the original historic details remain and will be incorporated in the new development, including fireplace mantles, wood paneling, and the grand front staircase.

Villa San Bernardo (Bedford, Cuyahoga County)

Total Project Cost: $14,223,058

Total Tax Credit: $1,999,990

Address: 1160 Broadway Ave., 44146

The former mother house and retreat house of the vacant Vincentian Sisters of Charity will be rehabilitated for affordable housing for seniors and individuals that are disabled. This project includes a new addition that will accommodate more apartments.

Wayne Agency Building (Cuyahoga Falls, Summit County)

Total Project Cost: $1,152,834

Total Tax Credit: $164,000

Address: 2146-2162 Front Street, 44221

This 1922 building in downtown Cuyahoga Falls has served as office, retail, and fraternal organization meeting space over the years. Half of the front facade was covered with siding and a wood mansard in the 1970s, but the original brick is visible on the other half. In the renovation, the owner will remove the siding and the building will once again have a unified facade front on one of Cuyahoga Falls' main commercial streets. Four apartments will be constructed in the second floor of the building while a variety of retail, office, and service tenants will occupy the remainder of the building.

Whitelaw Building (Akron, Summit County)

Total Project Cost: $1,282,909

Total Tax Credit: $249,999

Address: 176-180 S. Main St., 44308

The Whitelaw Building is part of a group of buildings on Akron's South Main Street receiving awards this round. This building is a two-story, mixed-use building that will be rehabilitated with commercial space on the first floor and seven apartments above. Once a saloon and later home to a variety of retail establishments, the Whitelaw Building is one of the oldest buildings left in this area of downtown Akron.

NORTHWEST REGION

S. Metzger Produce Building (Toledo, Lucas County)

Total Project Cost: $3,157,541

Total Tax Credit: $609,065

Address: 139 S. Huron, 43615

Located in downtown Toledo's Warehouse District, the Metzger Produce Building served as a produce warehouse for 100 years. Vacant for six years, the building will be revitalized into two commercial spaces and five apartments. Once the core of the grocery and produce warehouse district, the building sits at the center of Toledo's downtown commercial district, the entertainment district surrounding the Mud Hen's minor league baseball stadium, and the farmer's market.

EASTERN REGION

Potter Davis Building (Cambridge, Guernsey County)

Total Project Cost: $3,701,572

Total Tax Credit: $713,489

Address: 710-720 Wheeling Ave., 43725

Vacant for many years, the Potter Davis building takes its name from the department stores that used the space throughout the 20th century. This three-story building in downtown Cambridge will be renovated into offices for the county's Area Agency on Aging, relocating more than 100 employees to the building.

CENTRAL REGION

34 Building (Columbus Dispatch Building) (Columbus, Franklin County)

Total Project Cost: $29,100,000

Total Tax Credit: $2,228,459

Address: 34 S. Third St., 43215

Built in 1925 as the headquarters and printing facility for the Columbus Dispatch, this six story building faces the Statehouse in downtown Columbus. Updated over the years to meet the newspaper's needs, the rehabilitation project will transform the building into primarily office spaces with some restaurant space on the first floor. The project is eligible for additional tax credit allocation, up to the requested $2,900,000, as it becomes available through withdrawn applications or project savings.

Engine House No. 6 (Columbus, Franklin County)

Total Project Cost: $1,025,000

Total Tax Credit: $250,000

Address: 540 W. Broad St., 43215

Built in 1892 for Columbus fire department use, the building was used as commercial space from the 1960s until 2014. Currently vacant, the building will be rehabilitated into a cafe and office space along West Broad Street in Franklinton.

WESTERN REGION

115-117 S. Main Street (Urbana, Champaign County)

Total Project Cost: $222,686

Total Tax Credit: $31,250

Address: 115-117 S. Main St., 43078

This project is Urbana's first Ohio Historic Preservation Tax Credit award. Built in the 1890s, the two- story commercial building housed a restaurant or bar in its first floor with residential space upstairs.

Vacant since 2013, the new owner plans to rehabilitate the two apartments and the first floor for a new retail tenant.

1500 E. 5th Street (Dayton, Montgomery County)

Total Project Cost: $424,272

Total Tax Credit: $48,600

Address: 1500 E. 5th St., 45403

This small Italianate building was built in 1878 in Dayton's St. Anne's Hill district. After years as a saloon, a pharmacy, and a violin shop, the vacant building will be renovated for office and meeting space.

Coleman-Allen Building (Troy, Miami County)

Total Project Cost: $978,505

Total Tax Credit: $107,000

Address: 1-3 E. Main St., 45373

The Coleman-Allen Building anchors an important corner of downtown Troy's main square. Built in 1855, the building was remodeled in the 1870s, the 1940s and again in the 1960s, but it still retains many of its original features and historic character. Vacated in 2015, the city and its partners have been working to rehabilitate the building to serve residential and retail needs. This award will fund the first phase of the project: exterior and elevator work. This is the first Ohio Historic Preservation Tax Credit in the city of Troy.

Dayton Arcade-Fourth Street (Dayton, Montgomery County)

Total Project Cost: $56,456,964

Total Tax Credit: $5,000,000

Address: 35 W. 4th St., 45402

The Dayton Arcade-Fourth Street project includes three buildings: the Dayton Arcade/Rotunda Building, the Commercial Building, and the Lindsey Building. The Arcade and Rotunda form the core of the iconic collection of buildings and once served as a public market space. The Commercial and Lindsey Buildings once contained ground floor retail and office floors above. All three buildings have been vacant for decades. They will be revitalized as a mixed-use project with housing, event and performance spaces, and commercial and office space.

SOUTHWEST REGION

53 E. Clifton Avenue (Cincinnati, Hamilton County)

Total Project Cost: $993,236

Total Tax Credit: $194,000

Address: 53 E. Clifton Ave., 45202

Vacant since a fire in 2001, 53 E. Clifton is part of a multi-building project called the Morgan Apartments, three of which received funding this round. Developed by the Model Group and Over-the- Rhine Community Housing, this project also received Low-Income Housing Tax Credits. The five rehabilitated apartments will be available to residents who make 60 percent or below the Area Median Income.

126 E. 6th Street (Cincinnati, Hamilton County)

Total Project Cost: $20,034,083

Total Tax Credit: $1,992,000

Address: 126 E. 6th St., 45202

The Reakirt Building is a ten-story commercial building in downtown Cincinnati. Near the new Cincinnati Bell Connector streetcar, this project will rehabilitate the building into first floor commercial space and 36 apartments floors two through nine. A non-historic adjacent building will be demolished and a new five-story apartment building constructed in its place.

620-622 Vine Street (Cincinnati, Hamilton County)

Total Project Cost: $1,543,900

Total Tax Credit: $249,000

Address: 620-622 Vine St., 45202

The former House of Adam menswear shop in downtown Cincinnati will be rehabilitated after a long period of vacancy. This building evolved over time from a home, to commercial spaces containing offices, a billiard hall, stores, and residential units. After completion, it will include first floor commercial space and upper story apartments.

1731 Elm Street (Cincinnati, Hamilton County)

Total Project Cost: $1,849,182

Total Tax Credit: $249,000

Address: 1731 Elm St., 45202

Built in the 1880s across from Findlay Market in the Over-the-Rhine neighborhood, this five-story building housed families upstairs and businesses on the first floor. Today it stands adjacent to the new streetcar line and the vibrant Findlay Market. The building will be rehabilitated into residential units on the upper floors and commercial space on the first floor. The Model Group is undertaking this project as part of their larger effort in the area called Market Square at Findlay Market.

1815 Elm Street (Cincinnati, Hamilton County)

Total Project Cost: $1,879,058

Total Tax Credit: $186,000

Address: 1815 Elm St., 45202

Built around 1880 across from Findlay Market in the Over-the-Rhine neighborhood, this three-story building housed families upstairs and businesses on the first floor. Today it stands adjacent to the new streetcar line and the vibrant Findlay Market. The building will be rehabilitated into residential units on the upper floors and commercial space on the first floor. The Model Group is undertaking this project as part of their larger effort in the area called Market Square at Findlay Market.

1900 Vine Street (Cincinnati, Hamilton County)

Total Project Cost: $1,519,843

Total Tax Credit: $249,000

Address: 1900 Vine St., 45202

1900 Vine Street is part of a multi-building project called the Morgan Apartments, three of which received funding this round. Developed by the Model Group and Over-the-Rhine Community Housing, this project also received Low-Income Housing Tax Credits. The four rehabilitated apartments will be available to residents who make 60 percent or below the Area Median Income and will provide diverse housing opportunities in the Over-the-Rhine neighborhood. A commercial space will be located on the first floor.

1902-1904 Vine Street (Cincinnati, Hamilton County)

Total Project Cost: $1,539,450

Total Tax Credit: $250,000

Address: 1902-1904 Vine St., 45202

Vacant for over a decade, 1902-1904 Vine Street is part of a multi-building project called the Morgan Apartments, three of which received funding this round. Developed by the Model Group and Over-the- Rhine Community Housing, this project also received Low-Income Housing Tax Credits. The nine rehabilitated apartments will be available to residents who make 60 percent or below the Area Median Income. This project will provide diverse housing opportunities in Over-the-Rhine.

Cincinnati Union Terminal (Cincinnati, Hamilton County)

Total Project Cost: $233,496,578

Total Tax Credit: $5,000,000

Address: 1301 Western Ave., 45203

From 1933 until 1974 this building served as a passenger rail terminal. After a short-lived retail endeavor came and went, the building was reopened as the Cincinnati Museum Center, housing the Museum of Natural History, the Children's Museum, and the Cincinnati Historical Society as well as remaining as the Amtrak station. This rehabilitation project will update many of the building's systems and spaces.

Niehoff Flats (Cincinnati, Hamilton County)

Total Project Cost: $1,262,839

Total Tax Credit: $138,500

Address: 21 E. 15th St., 45202

Located in an area of Over-the-Rhine between areas of development, this 1865 era building has been vacant for several years. It will be renovated into six market-rate apartments.

Price Hill Masonic Lodge (Cincinnati, Hamilton County)

Total Project Cost: $19,216,946

Total Tax Credit: $1,900,000

Address: 3301 Price Ave., 45205

The former Masonic Lodge in the Price Hill neighborhood served the Price Hill Freemasons for 77 years and is now vacant. The building, which includes grand former meeting spaces, will be renovated into offices for Price Hill Will, and an event and performance space. Adjacent new construction will include 32 residential units as well as commercial and office spaces.

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