Ohio grants Music Hall $25 million in tax credits - Cincinnati News, FOX19-WXIX TV

Ohio grants Music Hall $25 million in tax credits

Music Hall (FOX19) Music Hall (FOX19)
CINCINNATI, OH (FOX19) -

Music Hall is finally going to get the repairs it needs, thanks to a tax credit from the State of Ohio.

The Ohio Development Services Agency (ODSA) announced Thursday that Music Hall will receive a one-time $25 million catalytic tax credit.

"We thank the State of Ohio for recognizing the importance of Music Hall to the fabric of our community," said president of the Music Hall Revitalization Company Otto Budig. "This tax credit, we have raised nearly $100 million of the $123 million needed to restore Music Hall for generations to come."

Music Hall was built in 1878 and has not received any significant renovations in about 50 years. 

Earlier this year, both Music Hall and Union Terminal were listed as two of the nation's most endangered historic places by the National Trust for Historic Preservation. 

[RELATED: Voters agree to save Union Terminal, but what about Music Hall?]

In November, voters said 'yes' to Issue 8 and agreed to pay an icon tax to raise the money needed to repair Union Terminal. 

Music Hall was also originally included in Issue 8 but was voted down by Republican county commissioners. 

The funding will cover repairs like reopening blocked windows, removing a deteriorating skywalk and creating additional production spaces. 

Copyright 2014 WXIX. All rights reserved.

Powered by Frankly