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State rescinds historic tax credits for Ohio Bell Building redevelopment in downtown Cleveland
Michelle Jarboe/Crain s Cleveland Business
An out-of-state developer that hoped to remake much of the Ohio Bell Building in downtown Cleveland s Gateway District as a hotel recently lost state tax credits for the preservation project. The 22-story building is owned by AT&T.
The state has revoked a $4.2 million historic tax credit award for the Ohio Bell Building in downtown Cleveland, where a planned hotel conversion stalled out last year.
In a letter dated Feb. 19, the Ohio Development Services Agency notified Todd Interests that it had rescinded the award after the Dallas-based real estate company failed to show progress. The highly sought-after credits, which the state doesn t pay out until projects are complete, will go back into a pool for future preservation-minded applicants. ....

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