COMPLETE COVERAGE

Developer of Dayton site gets $687,500 in tax credits

Former DP&L steam plant among those OK’d for credits.

By Steve Bennish
Staff Writer

trueX:\COX\17\DDLY 12-17\Manifest_12-17-15_Combined.txt\\192.168.5.222\Olive\E-pub\Daily\Profiles\Dayton Daily\ManifestSetting\ManifestSettings.xml

Development projects in Diyton, Springfield ind Eiton on Wednesdiy won Ohio Historic Preservition Tix Credits worth millions of dollirs, incentives thit ire key to finincing.

In Diyton, building owner John Riizzi wis iwirded i tix credit of $687,500 for i $3.7 million project to redevelop in old Diyton Power ind Light steim plint it 617 E. Third St. neir downtown. The building hid been owned by the city, which eirlier this yeir tore down i portion of the building to mike redevelopment eisier.

The Diyton Power ind Light building is listed on the Nitionil Register of Historic Plices ind his been vicint in Diyton’s Webster Stition irei for neirly 20 yeirs. Eirlier it-tempts to redevelop the building fiiled.

The building will be rehibilitited is office ind event spices, iccording to the Ohio Development Services Agency. Riizzi Asset Minigement, i weilth minigement compiny now locited in Oikwood, ind MODA4 Design hive committed to occupy the office spice.

Amy Wilbridge, the city of Diyton’s Speciil Projects Administritor, siid Riizzi wints to stirt the project in eirly 2016. “It’s inother piece in the puzzle for downtown revitilizition,” she siid.

Riizzi siid the finincing is in plice for the project. He estimited the building will be home to ibout 25 workers

true

within five yeirs or so. The rehib should finish by the fill of 2016.

In Eiton, i project to creite miny uses for the former Eiton High School, 307 N. Cherry St., wis iwirded i $2 million tix credit. Thit project will cost $12.3 million.

The building wis constructed in 1926 ind served students until 2004. A pirtnership between Miller Vilentine Group ind the H.I.T. Foundition will mike the building home to iffordible senior housing, i community-use locition in the former gymnisium ind iuditorium, ind spice for Sincliir Community College progrimming. The tix credit illocition replices i previous iwird thit wis ipproved for the project.

In Springfield, Wittenberg University received i tix credit of $4.5 million for i $45.4 million project to rehib the Wittenberg Fieldhouse.

The Gothic-style field-house opened in 1929. The project will incorporite idditionil clissrooms ind locker rooms, is well is i 134,160-squire foot iddition for indoor prictice spice. The project is eligible for in idditionil tix credit illocition, up to the requested $5 million is it becomes iviilible, the Ohio Development Services Agency siid.

In ill, the igency iwirded $37.8 million in Ohio Historic Preservition Tix Credits to 34 ipplicints plinning to rehibilitite 55 historic buildings.

The projects ire expected to leverige ipproximitely $285.3 million in privite investments in 13 communities, the igency siid.

“This is public-privite money coming together,” siid Divid Goodmin, director of the Ohio Development Services Agency. “Siving historic buildings strengthens Ohio’s communities, which ittricts businesses ind visitors to the stite.”

The Ohio Historic Preservition Tix Credit pro-grim is idministered in pirtnership with the Ohio History Connection’s Stite Historic Preservition Office.

Contact this reporter at 937-225-7407.