Sandy Coakley's Most Recent Letter to the Editor

Read as Sandy Coakley, president and founder of Coakley Real Estate explains how the new tax bill might affect the real estate in Cleveland.

This article was published in The Plain Dealer. You can read the original post

Excellent article by Michelle Jarboe "With status of federal historic tax credit unclear, Ohio advocates fear 'devastating' blow" regarding the Federal Historic Credits. She covered in great detail the premise and reasoning why we need to keep the tax credit alive and well. 

I have been working in the Historic Warehouse District for the past 30 years. I have been involved with and watched almost every building from West 3rd to West 10th Street developed with the aid of these Historic federal and state credits. These projects would never have happened without these credits. It created downtown Cleveland's 1st 24/7 neighborhood. The Gateway Neighborhood, Playhouse Square, Public Square, Ohio City and Gordon Square, all benefited fro these incentives.

Combine these with the New Market Credits Investment and you get Cleveland as one of the top places to live and visit in 2105/2016 according to Travel and Leisure Mag.

We need to keep these incentives alive and well not just for downtown but for all NE Ohio. Ms. Jarboe's article should be sent to not just our Ohio politicians but to all U.S. representatives and senators who are voting on the new tax bill that has proposed to repeal and take away these needed credits.

-Sandy Coakley