Saturday, September 23, 2023

Latest TMUD wish list is NEO-light

As the only application for a downtown Cleveland project, the Playhouse
Square Foundation requested $1.95 million to help offset the cost of
renovating three buildings it owns, pictured here. The properties start
at 1317 Euclid Ave., just east of the storefront at the corner of Euclid
and East 13th Street with the big Playhouse Square sign that could
be strengthened to support a vertical addition of up to eight more

One of Northeast Ohio’s favorite past-times is to complain that too much of their state tax dollars are going to the rest of the state and not enough to Northeast Ohio. But if you don’t ask for anything, you don’t get it. That’s the case when it comes to the latest round of Transformational Mixed Use Development (TMUD) tax credits. Northeast Ohio TMUD applications represent only 10.8 percent of the total dollar amount requested statewide for Ohio’s fiscal year 2024 round and only one downtown Cleveland project was submitted. Ironically, the TMUD program was the brainchild of a Cleveland developer to encourage more downtown Cleveland projects.


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