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RESOLUTION NO. 8481-11 <br />By; Bullock, Butler, Juris, <br />Madigan, Nowlin, Powers. <br />A RESOLUTION urging the Ohio General Assembly to renew the Ohio Historic <br />Preservation Tax Credit <br />Whereas, 111 applications for the Ohio Historic Preservation Tax Credit have generated <br />a projected $1.2 billion in private investment, and <br />Whereas, historic rehabilitation projects are more labor intensive than new construction <br />projects, and incentives for rehabilitation. projects .should be promoted to create more <br />jobs; and <br />Whereas, Ohio has a significant untapped resource of 3,700 National Register-listed <br />properties, 3rd most nationally; and <br />Whereas the Ohio Historic Preservation Tax Credit stimulates the opportunity to take <br />advantage of more federal tax incentives; and <br />Whereas, the greenest building is the one that has already been built; and <br />Whereas, there are 31 states that have programs offering historic tax credits; and <br />Whereas, the Ohio Historic Preservation Tax Credit has had a positive impact in large <br />and small communities throughout every region of the. State, with projects having been <br />approved in 271arge and small communities in 26 counties; and <br />Whereas, the reuse of historic. buildings makes Ohio competitive in the global market as <br />we create vibrant, hip communities that will attract and retain our youth and bright, <br />creative entrepreneurs of all age; now, therefore, <br />BE IT RESOVLED BY THE CITY OF LAKEWOOD, STATE OF OHIO: <br />Section 1. That this Council and Mayor support the renewal of the 25% Ohio Historic <br />Preservation Tax Credit. <br />Section 2. That the Clerk of Council is duected to forward a certified copy of this <br />Resolution to the Clerk of the Ohio General Assembly, and that a copy of this Resolution <br />be spread upon the minutes of the meeting. <br />Adopted: ~ a1/t <br />Approved:. ~ ~-~ <br />