The Ohio Historic Preservation Tax Credit Program (HPTC) provides a tax credit in order to leverage the private redevelopment of historic buildings.
Senate Bill Proposes Significant Expansion of Historic Preservation Tax Credit
Since its inception, tax credits have been approved for 525 projects to rehabilitate over 749 historic buildings in 72 different Ohio communities. The program is projected to leverage more than $6.8 billion in private development funding and federal tax credits directly through the rehabilitation projects.
GOPC Offers Testimony in Statehouse
By Lindsey Gardiner, Government Affairs Manager Throughout the month of October, Government Affairs Manager Lindsey Gardiner has been on the move within the House and Senate offering interested party testimony for various legislative bills that would impact Ohio’s revitalization policies. From establishing Downtown Redevelopment Districts and collecting data to track the effectiveness of the Historic Preservation Tax Credit, to extending and expanding the Local Government Innovation Council, there is a lot going on within the chambers of our Legislature.
On October 14th, GOPC submitted written interested party testimony for HB 340, which proposes to extend the Local Government Innovation Council (LGIC) through December 31, 2019. Currently, the LGIC is scheduled to sunset by the end of December this year. GOPC was extremely supportive of the LGIC when it was established nearly five years ago and we have been impressed by the Program’s positive impact in hundreds of communities across the state. Our testimony to the House State Government Committee affirmed that this program effectively encourages Ohio governments to work more efficiently and that extending the LGIC would enable the continuation of the programs that have benefited communities in innovation, efficiency, and public safety.
Lindsey Gardiner, Manager of Government Affairs, offered interested party testimony on numerous bills this month.
HB 233, which proposes to authorize cities to create Downtown Redevelopment Districts (DRDs) and Innovation Districts to promote economic development, is another bill GOPC has strived to place in the spotlight within its respected committee. Earlier this month GOPC offered testimony that supported the overall objectives of the proposal and shared with members of the House Government Accountability and Oversight Committee of our endorsement of the bill. Testimony stated that our Policy Committee decided to endorse HB 233 as it champions revitalization and incentivizes much-needed investment and redevelopment in Ohio. Additionally, since offering testimony for this bill, HB 233 was amended before ultimately being passed out of Committee. GOPC is happy to report that the bill was amended to include a provision requiring the collection of necessary data to track the performance of revenues resulting from the Historic Preservation Tax Credit (HPTC). As you may recall, the HPTC has played a vital role in the rehabilitation of historic buildings throughout Ohio and has proven to bring economic benefits to the state in more ways than one. This new provision will help the preservation community and members of the Legislature gain a better understanding of why the HPTC is so important.
For more information on GOPC’s testimony, the endorsement of HB 233, or to ask any questions pertaining to our legislative efforts, please feel free to contact Lindsey Gardiner at LGardiner@greaterohio.org.