MANSFIELD — A pair of projects related to the refurbishment of the Mechanics Bank building in downtown Mansfield will receive state support after an announcement on Thursday by Ohio Gov. Mike DeWine.
The cost of the two projects combined totals a little more than $1.1 million, with a total tax credit of nearly nearly $330,000.
The projects include:
Project 1
Mechanics Bank 10-14 S Main Street (Mansfield)
Total Project Cost: $812,761
Total Tax Credit: $242,538
Address: 10-14 S. Main St., Mansfield, OH 44902
This small building in downtown Mansfield will be rehabilitated to accommodate the expansion of Mechanics Bank. Dating to the 1880s, the brick building held a saloon, hardware store, and other businesses on both floors.
Though the storefront has been altered, it retains original cast iron columns. The bank will rehabilitate second-floor spaces for additional offices while the first floor is already in use in that capacity.
Project 2
Mechanics Bank 16 S Main Street (Mansfield)
Total Project Cost: $289,739
Total Tax Credit: $86,461
Address: 16 S. Main St., Mansfield, OH 44902
Part of a larger project with the neighboring building, this property will be rehabilitated by Mechanics Bank for the expansion of their downtown Mansfield offices. Built in the 1880s as a store, it was later turned into a pool hall.
The bank already uses the first floor but this project will address the second floor and convert the open spaces into six offices.
DeWine, Lt. Governor Jon Husted, and Ohio Department of Development Director Lydia Mihalik announced support for the rehabilitation of dozens of historic buildings across the state.
In total, 46 projects involving the renovation of 54 buildings will be awarded $67,517,474 in tax credits as part of the Ohio Historic Preservation Tax Credit program.
The projects are also expected to leverage approximately $732 million in private investments.
“Historic preservation is so much more than just updating old buildings. We’re preserving what exists and making concerted efforts to weave this history into the fabric of Ohio’s future,” DeWine said. “
“By restoring our historical assets, we’re ensuring that these structures remain part of their communities for years to come.”
“Historic preservation is a recognition of our past and an investment in our future,” Husted said.
“Each and every project that’s completed becomes a new business or housing for residents and once again contributes to the local economy and future of the community.”
Among the 16 communities receiving tax credits are Columbus, Somerset, Akron, Berea, Cleveland, East Liverpool, Mansfield, Salem, Steubenville, Youngstown, Toledo, Nelsonville, Zanesville, Arlington Heights, Cincinnati, and Dayton. Of these, Zanesville, Steubenville, and Arlington Heights are first-time recipients.
The awards will assist private developers in rehabilitating historic buildings in downtowns and neighborhoods. Many of the buildings are vacant today and generate little economic activity.
Once rehabilitated, they will drive further investment and interest in adjacent property.
Developers are only issued the tax credit once project construction is complete and all program requirements are verified.
“This program is so important because these tax credits are often a deciding factor in determining whether or not a historic preservation project is able to move forward,” said Lydia Mihalik, director of the Department of Development.
“We’re proud to be able to help make these projects happen and restore life back into our state’s historical assets.”
The Ohio Historic Preservation Tax Credit program is administered in partnership with the Ohio History Connection’s State Historic Preservation Office.
The State Historic Preservation Office determines if a property qualifies as a historic building and that the rehabilitation plans comply with the United States Secretary of the Interior’s Standards for Rehabilitation.
“Historic preservation projects are a boon to Ohio history, Ohio’s environment, and Ohio communities.” said Mariangela Pfister, department head and deputy state historic preservation officer for Technical Preservation Services in the Ohio History Connection’s State Historic Preservation Office.
“This allows an iconic building like Carew Tower in Cincinnati, former schools in Arlington Heights and Berea, a former church in Dayton, The Edna, a building significant to the African American community in Columbus, and many others, to have a new life.”
The Ohio Department of Development empowers communities to succeed by investing in Ohio’s people, places, and businesses. Learn more about our work at development.ohio.gov.
The Ohio History Connection is a statewide history organization with the mission to spark discovery of Ohio’s stories. As a 501(c)(3) nonprofit organization chartered in 1885, the Ohio History Connection carries out history services for Ohio and its citizens that are focused on preserving and sharing the state’s history.
This includes housing the State Historic Preservation Office and the official state archives and managing more than 50 sites and museums across Ohio. For more information, go to ohiohistory.org.
The Greater Columbus Arts Council provides support for Ohio History Connection programs.