COLUMBUS — The Ohio Department of Development announced this week the application for the third round of the Transformational Mixed-Use Development Program is open.

The program provides a tax credit for major, mixed-use developments in Ohio. Applications are now available on the program website.

“Through this program we’re creating opportunities for success in Ohio’s communities,” said Lydia Mihalik, director of the Department of Development. “With the support of these tax credits, communities are building unique and forward-thinking spaces and revitalizing downtowns into places where Ohioans can find success, grow their family, and fulfill their potential.”

Through two prior rounds, Development has awarded $200 million to 25 mixed-use development projects expected to result in more than $3.3 million in new payroll and $3.7 billion in investments across Ohio.

The tax credit can be used to help finance new construction and/or improvement of vacant buildings. Developments must include an influence on the economic and social well-being of the immediate site and surrounding area that will influence long-term change on the area. Development properties eligible for the tax credit must include at least two mixed uses, three if one is a parking structure.

Eligible costs include land acquisition, building acquisition, demolition, site improvement, and new construction of the site.

Established in Senate Bill 39, the Ohio Tax Credit Authority approves and awards funding for the program, up to $100 million per fiscal year. Developments applying for the program will be separated into two funding categories: major city and general. Major city projects must be located within 10 miles of a corporation limit of Columbus, Cleveland, Cincinnati, Toledo, Akron, and Dayton. No more than $80 million per fiscal year will be approved for major city projects and no more than $40 million will be approved for a single development.

For more information, and to find the application, visit the program website. Applications must be received by 4 p.m. on Sept. 8, to be considered. Questions regarding the program can be sent totransformational@development.ohio.gov.

The Ohio Department of Development empowers communities to succeed by investing in Ohio’s people, places, and businesses. Learn more about our work at development.ohio.gov.