Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced state support for 12 mixed-use development projects that are expected to create more than $1.29 billion in new payroll and $2.3 billion in investments across Ohio. Van Wert Forward Phase II is one of the twelve projects supported with $896,134 in tax credits from the Transformational Mixed-Use Development (TMUD) Program administered by the Ohio Department of Development. The TMUD credits are awarded to organizations that demonstrate an ability to spur economic growth and social well-being, producing long-term, positive change for a community.
The Van Wert County Foundation, the vision-driving force behind Van Wert Forward is pleased to announce that this support is appropriated for Phase II, which is part of the historic rehabilitation of 19 largely vacant buildings in the Downtown Business District of Van Wert. Phase II will rehabilitate five buildings to house 15 residential units and 7,440 square feet of commercial space. The project is expected to create 35 full-time jobs and 46 construction jobs.
The projects are receiving state support as part of the second round of the Transformational Mixed-Use Development Program. Projects will include the construction or redevelopment of more than 5.3 million square feet of transformational space to create new housing, retail, dining, office, lodging, and entertainment opportunities.
“These projects will transform not only the sites themselves but also the look and feel of entire neighborhoods,” said Governor DeWine. “We’re changing the face of these communities and bringing Ohio into the future. I’m looking forward to seeing the tremendous change these projects create in their communities.”
The Transformational Mixed-Use Development program was created as part of the 133rd Ohio General Assembly’s Senate Bill 39. The bill, sponsored by Senator Kirk Schuring (R-Canton), was signed into law by Governor DeWine and became effective in March 2021. Van Wert Forward was awarded $2.6M in tax credits allocated to Van Wert Forward Phase I through the first phase of this program in March 2022.
“Van Wert Forward had the amazing opportunity to travel to Columbus for this award and stand in a room full of influential leaders to present at length about the cool things happening in Van Wert,” shared Hall Block, VWForward Property Manager. “The fact our state partners believe in Van Wert has helped us get this project off the ground. We are so thankful for the awarded tax credits and the recognition it brings to Van Wert from all across the state of Ohio.”
Van Wert Forward is restoring and developing the downtown’s core assets and revitalizing the heart of the Van Wert community. More information is available at vanwertforward.com or at Van Wert Forward’s social pages on Instagram and Facebook.