The newsletter of the Cleveland Restoration Society, NEO's voice for historic preservation. We believe in the future of our built heritage, from our neighborhoods to our monumental landmarks. |
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AUGUST 2020 PRESERVATION NEWS & EVENTS |
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REGISTER FOR OUR FIRST-EVER VIRTUAL COMMUNITY LUNCHEON CONNECTION |
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Community Luncheon Connection
Virtual Event
Friday, September 11, 2020
11:30 a.m. Networking • 12:00 p.m. Program
Keynote Speaker John G. Morikis
Chairman & CEO of Sherwin-Williams
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The Cleveland Restoration Society Community Luncheon Connection is the annual event that brings together the downtown community to support and celebrate our cultural heritage. Over the years our luncheons have attracted upwards of 300 community leaders who make an important impact in our region. During this unprecedented year, we will present a virtual Community Luncheon!
The Society is indeed fortunate to announce
John G. Morikis, Chairman and CEO of Sherwin-Williams, as our 2020 keynote luncheon speaker. With more than 30 years of corporate experience, Morikis knows a thing or two about success while making it look seamless. Morikis rose through the ranks from management trainee to his current post as Chairman and CEO. No wonder Forbes Magazine named him as one of the nation’s most innovative leaders of 2019. Indeed Morikis is helping to paint the picture of success at the global manufacturer and as a trailblazer in an industry closely tied to our important work and to the region.
If you previously registered and paid for this year's Community Luncheon, you do not need to register again. You will be receiving more information soon about how to participate in the Community Luncheon Connection.
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THANK YOU TO OUR SPONSORS! |
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COLLEGE STUDENT WANTED FOR FALL JOB |
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Cleveland Restoration Society is looking to hire a college student for the fall as an Intern. The position will be a part-time, 20 hours per week temporary position. We are looking for a student who will handle telephone inquiries and communications with the clients of CRS’s Heritage Home Program and CRS’s membership database. Please send a resume to Tom Jorgensen at tjorgensen@clevelandrestoration.org as soon as possible.
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HERITAGE HOME PROGRAM VIRTUAL PRESENTATIONS |
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The Heritage Home Program will continue to have virtual presentations in the coming months.
Join us to learn more about the services we provide and some tips and tricks that we have found from years of helping homeowners through their rehab and renovation projects.
To register for these presentations, call 216-426-3116 or go to www.heritagehomeprogram.org. You will then be sent a link to join the information session via Zoom or telephone.
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CONGRATULATIONS 2020 OHIO TAX CREDIT RECIPIENTS |
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The Ohio Development Services Agency awarded $31,204,165 in Ohio Historic Preservation Tax Credits for the rehabilitation of 40 historic buildings. Together, the projects are expected to leverage approximately $347 million in private investments in nine communities. Eight of these projects were in Northeast Ohio
Read the full list of winners below.
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Eric Heisig, cleveland.com First Methodist Church in the MidTown neighborhood |
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ERIEVIEW DISTRICT NOMINATED FOR NATIONAL REGISTER OF HISTORIC PLACES |
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Photo courtesy of Western Reserve Historical Society |
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On June 19, the Ohio Historic Site Preservation Advisory Board recommended that the Erieview Historic District be added to the National Register of Historic Places. If the National Park Service approves, Erieview would likely be on the register in September or October. |
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With approval, 28 buildings would be eligible for federal and state historic tax credits, which will open the door for investments in offices, homes and hospitality. The Erieview District is an important part of Cleveland history and significant mid-century modern architecture. The district includes the East Ohio Building, Chesterfield Apartments (now called Sphere), the Oswald Centre and Erieview Tower. Erieview Tower was awarded $5 million in tax credits for its redevelopment plan.
Click below to learn more about the Erieview Historic District.
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FUNDING OPPORTUNITY: NTCIC AWARDED $50 MILLION IN NMTC ALLOCATION |
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The National Trust Community Investment Corporation (NTCIC) announced that they have been awarded $50 million in New Markets Tax Credit (NMTC) allocation authority by the CDFI Fund of the U.S. Treasury Department. NTCIC will use this award to support transformational historic preservation projects that provide impactful solutions to disinvested communities nationwide.
Click below to submit your eligible project for consideration.
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IRS EXTENDS DEADLINE ON HISTORIC TAX CREDIT PROJECTS |
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To provide additional relief to taxpayers impacted by the pandemic, the IRS recently published a notice which extends the measuring period used in satisfying the substantial rehabilitation (“sub rehab”) test requirement for historic tax credits. Projects with a 24- or 60-month measuring period ending on or after April 1, 2020, and before March 31, 2021, now have until March 31, 2021 to incur sufficient QREs to satisfy the sub rehab test. This applies to both five-year credit projects and projects which still qualify for one-year credits under the transition rule included in the Tax Cuts & Jobs Act of 2017.
While this extension helps all HTC transactions, it particularly benefits projects that have experienced recent construction delays and were grappling with a 24-month period deadline of June 20, 2020, to remain eligible under the transition rule.
Click below to learn more about how this extension can impact HTC transactions impacted by COVID-19.
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ADVOCACY ALERT: SENATE HTC ADVOCACY NEEDED FOR COVID-RELIEF LEGISLATION |
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Senate Republicans recently released their version of relief and recovery legislation for the next round of legislation responding to the COVID-19 pandemic. The Senate bill is more limited in scope, focusing on relief efforts tied directly to the pandemic and liability protection. House Democrats laid out their plans for relief legislation with the HEROES Act and incorporated several provisions aimed at economic recovery in their infrastructure package, the Moving Forward Act (H.R 2). Included in the House infrastructure package were multiple changes from the Historic Tax Credit Growth and Opportunity Act (S.2615/H.R 2825) to enhance the Historic Tax Credit (HTC) and temporary provisions aimed specifically at addressing the challenges that rehabilitation projects are facing during the pandemic.
Reach out to your Senators and urge them to include these much-needed Historic Tax Credit provisions in the next COVID-19 relief and recovery bill.
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Wednesday, August 12th • 1:00 pm - 2:00 pm
Arts Commissions: Creating Cool Downtowns
Heritage Ohio
Art is one of the most important elements of creating a cool downtown. This webinar will share the success of four communities from around Ohio: Athens, Canton, Hamilton, and Toledo. What are their most successful projects? What barriers have they had to overcome? How have they funded these improvements? Each community will provide a short overview and then presenters will be available to answer your questions. Please join: Carol Patterson, Chair of the Athens Municipal Art Commission; Tricia Ostertag, VP Marketing & Special Events for Arts in Stark; Jacob Stone, Communications Specialist City of Hamilton; and Ryan Bunch Director of Community Initiatives at The Arts Commission, Toledo.
Monday, August 24th - Friday, September 4th
2020 Annual Conference
Heritage Ohio
This year's conference will be undoubtedly different from those you are used to attending, but not a lot has changed.
What to Expect:
*Sessions: 2 daily conference sessions to make attending our conference online pleasant and flexible with your schedule.
*Networking: Monday - Thursday, we will host a daily themed happy hour for networking and learning opportunities.
*Exhibitors: We will be hosting a virtual vendors' hall so you can still meet with vendors and explore what they have to offer.
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Support has been provided by Ohio Humanities, the National Endowment for the Humanities, and the federal CARES Act of 2020.
Generous project support is also provided by The Louise H. and David S. Ingalls Foundation.
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