Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Downtown Redevelopment topic
No spam. Unsubscribe anytime.
Mansfield Downtown Forward project awarded historic and mixed‑use tax credits; local liaison work to begin
Summary
Presenters said Windsor Companies and the Richland County Foundation will move forward with a Mansfield downtown redevelopment supported by $5,000,000 in historic tax credits and $1,100,000 in state transformational mixed‑use credits; county staff said a task force will be needed to meet time-sensitive financing requirements.
County presenters described a sizable downtown redevelopment project in Mansfield, reporting state tax-credit awards and the need for close coordination to monetize financing.
A presenter said the Windsor Companies and the Richland County Foundation plan multiple building renovations and that the project received approximately $5,000,000 in historic tax credits plus two state awards totaling about $1,100,000 for transformational mixed-use development. "There were $5,000,000 on historic tax credits, that were awarded on this project, and then there were 2 awards totaling 1,100,000 on the transformational mixed use development credits awarded at the state," the presenter said.
Presenters told commissioners that because the financing is time sensitive they expect to serve as a liaison between developers and local governments and that a task force will likely be required to keep the project on schedule and to monetize credits and bridge financing. Speakers emphasized the need to move quickly to avoid cost overruns and to ensure the credits are converted into usable financing.
No formal county approval for the project was recorded at the meeting; presenters said future coordination with the city of Mansfield and community partners will continue.
