Even though we are only seven and a half months into the current year, it is already shaping up to be a significant one for historic preservation, both nationally and here in Ohio. And, as the summer begins to wane and we move into a new school year, it seemed a good time to share some information on some of the changes that 2014 has brought for those seeking to preserve historic resources across the Buckeye State.
One key area that has experienced new developments is that of preservation-based financial incentives. Earlier this year, for instance, the Federal Rehabilitation Tax Credit program received a “shot in the arm” when a longstanding impediment to non-profit and for-profit partnerships was removed. As a result, large scale projects which have set for some time have begun to fall into place, such as that for the Colony Theatre in Marietta.
In a similar fashion, some additional clarity has arrived in the preservation easement (also known as historic façade easement) world through tax court cases which continue to provide a bit more information into best practices and pitfalls to avoid. Preservation Ohio closely monitors developments in this area. Also, the Ohio Historic Preservation Tax Credit (OHPTC) has not only experienced another successful year, but its pacesetting Pipeline Grant initiative has now seen success in places like Xenia in Greene County.
It might be noted that the Ohio tax credit program remains strong at the same time that similar credits in North Carolina are in severe jeopardy.
On the legislative front, the United States Senate recently passed a budget bill which would, if also passed by the House of Representatives and signed by the President, see a new, $10 million dollar competitive grant program aimed at “the restoration of historic places of national, state and local significance which are found on the National Register of Historic Places,” according to the bill’s language. The Senate has also acted to boost Heritage Partnership funding.
If you have questions in any of these areas, please do not hesitate to send me an email at: tpalmer@preserveohio.com.
Thomas Palmer
Photo: Phoenix Building, Ravenna, recipient of Ohio Historic Preservation Tax Credits — https://www.flickr.com/photos/63837784@N08/9702203705/in/set-72157635436525261/
