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The storefront retains authentic Forged iron factors that should be repaired and retained as well as the plywood masking the transoms is going to be removed. After rehabilitated, the building will property one business space and two upstairs apartments.
The rehabilitation tax credit is not permitted for expenses with respect to residence that is considered be tax exempt use house. Underneath the tax-exempt entity leasing guidelines of 168(h), the brink to determine if a disqualified lease exists is raised to over fifty%.
In that context, you may be entitled below that Act (the "CCPA") to ask for the following as also to the extent they implement to us:
Developers are certainly not issued the tax credit till task design is total and all software prerequisites are verified. Jointly, the jobs are anticipated to leverage about $564 million in non-public investments.
“Almost every legacy town in Ohio has a great old building that they wish someone would revitalize because it’s important to the community’s history and future—Historic Tax Credits make this hope a reality.”
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