MOUNT STERLING — A downtown redevelopment project in Mount Sterling is set to move forward with support from the Ohio Historic Preservation Tax Credit Program, as part of its 35th round of awards announced by the Ohio Department of Development.
Among the projects receiving tax credits is the Clock and Boyd project, located at 31–33–35 S. London Street in Mount Sterling. The project has an estimated total cost of $2.15 million and has been awarded $350,000 in historic preservation tax credits. The effort marks the first historic tax credit project in the Mount Sterling community.
The Clock and Boyd redevelopment includes the rehabilitation of two historic buildings and one non-historic structure within the downtown historic district. Once completed, the project is expected to bring new life to underutilized and vacant buildings by creating space for a restaurant or coffee shop and six residential apartments, blending commercial activity with downtown housing.
Governor Mike DeWine’s administration supports the tax credit program as a way to preserve Ohio’s historic structures while encouraging economic development in local communities.
“Across Ohio, we have historic gems that define our main streets and provide valuable resources for their communities,” said Ohio Department of Development Director Lydia Mihalik. “With the help of the Ohio Historic Preservation Tax Credit Program, we’re able to help restore and preserve these structures so they can continue to serve their neighborhoods and residents for generations to come.”
Tax credits are issued only after construction is completed and all program requirements are verified.
The Ohio Historic Preservation Tax Credit Program is administered by the Ohio Department of Development in partnership with the Ohio History Connection’s State Historic Preservation Office, which determines whether properties qualify as historic and ensures rehabilitation plans meet federal preservation standards.
“The rehabilitation of historic buildings through the Ohio Historic Preservation Tax Credit Program can revitalize main streets, help the environment, and create jobs, while preserving local history,” said Mariangela Pfister, Deputy State Historic Preservation Officer with the Ohio History Connection.
In addition to the Mount Sterling project, tax credits were also awarded to larger redevelopment efforts across the state, including the Marysville Light & Water Company Plant in Union County, a $25 million project that will transform a former utility facility into a mixed-use campus with offices, apartments, and wellness amenities.
State officials say projects like Clock and Boyd demonstrate how historic preservation can serve as a catalyst for downtown revitalization, especially in small and rural communities.
