Historic Tax Credits News Briefs – August 2019

Wednesday, August 7, 2019

The Ohio Development Services Agency (OSDA) announced the 22nd round of state historic preservation tax credit awards June 26. More than $28 million in awards went to 28 developments throughout the state. Funding will rehabilitate 49 historic buildings. ODSA received more than 50 applications totaling more than $60 million in funding requests.

***

The grand opening of 43 Town Square in Lima, Ohio, was June 25. The historic 1926 Lima Trust Company building was transformed into a mixed-income housing community. The 12-story building features 47 new apartments, with seven of them ADA-accessible for those with physical disabilities, as well as two with additional features for those with those with sight or hearing impairments. There are four one-, 36 two- and seven three-bedroom apartments. Amenities will include an on-site management office, two community rooms, a computer room and multiple laundry spaces. Financing for the development includes low-income housing tax credits from the Ohio Housing Finance Agency, federal historic tax credits (HTCs) and state HTCs. The development was a collaboration between the city of Lima, the Ohio Housing Finance Agency and Ohio Development Services Agency and 
Woda Cooper Companies Inc.

***

The National Park Service (NPS) published a notice July 3 in the Federal Register seeking feedback on its Historic Preservation Certification Application, NPS Forms 10-168, 10-168a, 10-168b, 10-168c, 10-168d and 10-168e. The certifications are necessary for an applicant to receive HTCs. No changes to the forms were proposed; the invitation to comment was published as part of the effort to reduce paperwork and respondent burden as required by the Paperwork Reduction Act of 1995. Comments will be accepted through Sept. 3.

***

Delaware Gov. John Carney signed a spending bill July 1 that included the authorization of $8 million in state HTCs for an additional year. S.B. 180 extends funding for the state HTC program through 2025. It previously was funded through 2024. The bill text is available at www.historictaxcredits.com.

Journal Category: 
Authors: