The agency awarded more than $26.5 million in Ohio Historic Preservation Tax Credits for the rehabilitation of 51 historic buildings. Together, the projects are expected to leverage approximately $259 million in private investments in 11 communities, the agency said.
Developer William Grau, who had been unsuccessful in receiving this tax credit in previous rounds, is in a legal battle with the city of Middletown over the ownership after the city invoked a reverter clause in 2018. The case has a trial date early next year.
Both buildings have been vacant for years, but officials hope they can be restored to serve as a hotel and neighboring brewery and taproom. The hotel will have 91 rooms and suites and will maintain the restaurant, bar, and ballroom spaces, according to plans previously released.
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