September 3, 2015
Historic tax credits
At the end of the June the Ohio Senate unexpectedly inserted a two-year moratorium for the Historic Preservation Tax Credit. They also proposed turning it into a grant program. BOMA Greater Cleveland and BOMA Ohio have supported this tax credit since it was first created in 2007.Because of the importance of this tax credit organizations from across Ohio joined forces and launched a grassroots campaign by writing letters and calling their state legislators. All six BOMA locals (Akron, Cincinnati, Cleveland, Columbus, Dayton, and Toledo) and BOMA Ohio were heavily engaged, as were groups like the Downtown Cleveland Alliance and the Greater Cleveland Partnership.Thankfully, due to the immense outpouring of opposition for the proposed moratorium and changes to the tax credit, the Ohio Senate acquiesced and pulled the proposal from the budget.