COLUMBUS—State Senator Steve Huffman (R-Tipp City) today announced that the Barclay Building in Dayton, Ohio has been awarded state funding through the Ohio Historic Preservation Tax Credit program for renovations to the historic structure.
"The historic preservation tax credit has played a significant role for the investment in many historic buildings across the Miami Valley," said Huffman. "I am thrilled to hear Dayton will be the latest beneficiary through investment in the Barclay Building.”
Built in the 1920s in downtown Dayton, the Barclay Building housed commercial office space until its last major tenant vacated in 2018. Slated to be converted to a 118-room boutique hotel, the project will provide hotel rooms close to all of downtown Dayton's commercial, sports, and cultural amenities.
In total, the Ohio Development Services Agency awarded $26,523,083 through the program to rehabilitate 51 historic buildings in 11 communities across the state. Developers do not receive the tax credit until project construction is complete and all program requirements are verified.
“Twenty-four rounds of this program have proven that historic preservation is a catalyst for investment in our downtowns and neighborhoods,” said Lydia Mihalik, director of the Ohio Development Services Agency, in a prepared statement. “These historic buildings will be a part of our recovery, providing homes for Ohioans and job opportunities during the rehabilitation and long after, when new businesses move into the buildings.”