NAIOP Ohio’s Board hosted the Ohio Development Services Agency Director, Lydia Mihalik, for a Zoom session. The Ohio Development Services Agency administers several programs that are of critical importance to the commercial real estate industry in Ohio, including Ohio’s Opportunity Zone Program and Ohio’s Historic Tax Credit Program. Mike Sikora led a discussion with Director Mihalik on several proposed enhancements to Ohio’s Opportunity Zone Program that are being considered.
Our firm obtained for our Clients approximately 20% of all Ohio Opportunity Zone tax credits awarded during Ohio’s inaugural round of OZ awards. We are now working on many Opportunity Zone Applications for Round 2 for our Clients, based upon their 2020 Opportunity Zone development activity.