$1.6M residential rehab project receives tax credits

Historic restauration awarded $250,000 to offset restoration costs

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Copyright AH Kalnow. Photos may not be reused without permission.

TIFFIN, OHIO – August 14, 2018 – Three residential properties in Tiffin’s historic Fort Ball district were awarded Ohio Historic Preservation Tax Credits in the Ohio Development Services Agency’s latest funding round. Monument Properties LLC received a nearly $250,000 credit for the renovation and restoration of 24 and 25 Adams St. and 149 Frost Pkwy, a nearly $1.6 million project.

Monument Properties LLC Owner Andrew Kalnow said the credits will allow for the proper restoration of the buildings’ original architecture. “It is imperative that we keep the historic integrity of the buildings while updating them for modern use. Recouping some of those costs through tax credits makes that goal more feasible.”

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Copyright AH Kalnow. Photos may not be reused without permission.

The three residential buildings are located in Tiffin’s Fort Ball – Railroad Area Historic District. Their construction dates range from c. 1856 to 1895. The building at 25 Adams St. is in Queen Anne style and 24 Adams St. is in Italianate style. After rehabilitation, the buildings will serve as apartments and bed-and-breakfast suites. One building may house a small retail space. The project will move forward contingent upon continued due diligence.

France Hall, a 1926 dormitory located on the campus of Heidelberg University, also received credits in the latest funding round. The three-story building will be rehabilitated to continue use as a dormitory, and the attic space will be finished to provide additional space for meeting rooms. Historic features of the Modern English Gothic-style building will be retained, and ADA accommodations, contemporary mechanical and safety systems, and bathroom updates will be added. The $14.6 million project was awarded nearly $1.5 million in Ohio Historic Preservation Tax Credits.

Tiffin Mayor Aaron Montz applauded the focus on preservation. “We have many beautiful, historic buildings and homes in our community. These restoration projects are outstanding examples to other historic building owners looking to make improvements without sacrificing the elements that make these buildings unique.”

2018 Ohio Historic Preservation Tax Credits
The Ohio Development Services Agency awarded $30,228,955 in Ohio Historic Preservation Tax Credits for the rehabilitation of 31 historic buildings. Together, the projects are expected to leverage approximately $348 million in private investment in 13 communities. The awards include projects in two new communities (Somerset and Lorain), bringing the total number of Ohio communities with historic preservation tax credit projects to 67.

About SIEDC
Started in 1983, the Seneca Industrial and Economic Development Corp. (SIEDC) is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at www.senecasuccess.com.

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