Dec 07, 2022 by Dennis McAndrew
Congratulations to our clients, Dillin Corp and Rockbridge, who are among the recipients of Ohio Transformational Mixed-Use Development (TMUD) tax credits. Awards of the second annual round of in tax credits were announced today. The TMUD Program provides tax credits to encourage mixed-use developments that will catalyze future development in the immediately surrounding area.
Rockbridge was awarded the TMUD incentive for its North Market Mixed-Use project in downtown Columbus and Dillin Corp. was awarded the incentive for its Wren Lofts project in downtown Springfield. See the full list of round two recipients here.
Silverlode is proud to have provided economic impact analyses to support our clients’ applications. Applicants for TMUD tax credits are required to estimate the economic and tax impacts of their proposed projects. The magnitude of this impact and the return on investment on the state’s tax credit investment are primary determinants of whether projects are awarded the highly competitive incentive.
In this second round, the $100 million of tax credits were awarded to 12 applicants. We anticipate the application period for the third of four rounds to open soon. Contact Dennis McAndrew for more information about Silverlode’s economic impact services for TMUD applicants.