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Ohio Awards $38M In Tax Credits To Revamp Historic Buildings

State officials say nearly $38 million in historic preservation tax credits will go to projects aimed at revitalizing and rehabilitating 55 historic buildings in Ohio. 

The state's Development Services Agency says the projects are expected to leverage about $285 million in private investments in 13 communities. The agency says the tax credits will help private developers renovate historic buildings in downtowns and neighborhoods. The Drexel Theatre in Bexley will receive $250,000 in tax credits to rehabilitate the building's marquee, concession stand, restrooms, projection, sound and seating. The credits will help offset the 2.6 million-dollar cost to restore the 1937 building. Other tax credit projects include updates to the Cleveland Athletic Club and several buildings in the Over-the-Rhine historic district in Cincinnati.

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