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  • State Support Will Help Re-Develop Ohio Neighborhoods

    $100 million in state support is now available as part of the second round of the Transformational Mixed-Used Development Program.

    The Ohio Department of Development is accepting applications for Fiscal Year 2023 projects. The program provides a tax credit for major mixed-use developments in Ohio to help finance new construction and/or improve vacant buildings.

    In March, Governor Mike DeWine and Lt. Governor Jon Husted announced the first round of support awarded as part of the program, involving 13 projects that are expected to result in more than $2.1 billion in new Ohio payroll and $1.4 billion in new investments across the state.

    Qualifying developments must impact the economic and social well-being of the immediate site and surrounding area in a way that influences long-term change in the area. Development properties eligible for the tax credit must include at least two mixed uses or three if one mixed-use is a parking structure.

    Eligible costs include land acquisition, building acquisition, demolition, site improvement, and new construction of the site.

    The Ohio Tax Credit Authority approves and awards funding for the program, up to $100 million per fiscal year. Developments applying for the program will be separated into two funding categories: major city and general. Major city projects must be located within 10 miles of a corporation limit of Columbus, Cleveland, Cincinnati, Toledo, Akron, and Dayton. Not more than $80 million per fiscal year will be approved for major city projects and not more than $40 million will be approved for a single development.

    The program application is available on the program website. Applications must be received by 4 p.m. Friday, July 8, 2022, to be considered. To read about projects receiving awards in the first round, click here.

    Questions regarding the program can be sent to transformational@development.ohio.gov.

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