Ohio’s Opportunity Zone Program Gets Even Better

Senate Bill 225 passed the Ohio House with the Ohio Senate unanimously concurring on the House amendments.  That Bill was signed by Governor DeWine and will become law on September 11, 2022.  Once it becomes effective, it will temporarily double the funding for Ohio’s Historic Tax Credit Program and Ohio’s Opportunity Zone Program, and it will bring valuable enhancements to both of those economic development Programs.

Mike Sikora drafted the Opportunity Zone language in that Bill, just as he did the most recent amendment to Ohio Opportunity Zone law last year.  Not only did we draft the two most recent versions of Ohio Opportunity Zone law, but we believe we also have far more experience utilizing that law for our Clients than any other firm.  We drafted and submitted 42 Ohio Opportunity Zone Applications in Round 1, 51 Applications in Round 2, and 79 Applications in Round 3 (the most recent Round).

Reach out to us for any and all Opportunity Zone matters that you may need assistance with.  We know how to utilize this new and improved Ohio Opportunity Zone law to ensure your compliance with it and to maximize your benefits from it.

Rising Star Legal Assistant Joins our Team

Our team is very excited to announce the addition of Alexandria “Alli” Green to our team.  Alli will serve as the firm’s Legal Assistant in our Downtown Cleveland Office.  Alli joins Sikora Law with prior experience as a litigation paralegal for a mid-sized general practice firm in Indiana.  She is currently pursuing her Bachelor’s Degree in Legal Studies from Indiana University at South Bend.  Alli is passionate about volunteering and is already getting involved in the Cleveland area community.  Her team player attitude and positive outlook will make her a fabulous fit with our team of professionals.  Welcome aboard, Alli!

Sikora Law Addition of Real Estate Attorney

We are excited to announce that we have welcomed Michael David to our team of lawyers.  Michael is a graduate of Ohio Northern University Pettit College of Law and is admitted to the Ohio Bar and Northern District of Ohio.  Prior to joining Sikora Law, Michael served as in-house counsel for one of the most active developers in Northeast Ohio where he handled transactional, entitlement, and tax abatement matters for the company’s multi-family development projects.  Michael is a member of the Ohio State Bar Association and Cleveland Metropolitan Bar Association.  He will make a wonderful addition to our stellar team at Sikora Law!

NAIOP Ohio’s Legislative Day a Smashing Success

On May 18, Mike Sikora and Rick Craven attended NAIOP Ohio’s Legislative Day in Columbus.  Mike Sikora and Rick Craven  were two of the three presenters on the legislative issues that NAIOP members advocated on throughout that day.  Mike presented on the importance of Senate Bill 225 and the Opportunity Zone language that is currently in it, and Rick presented on House Bill 237 that addresses e-recording, electronic availability of records, and several other real property law improvements in that Bill.

Mike and Rick then had numerous meetings with Ohio Senators and Representatives to advocate on these issues, and they gained valuable insight on what’s holding them up and what it will take to get them passed.  NAIOP Ohio held its first legislative Happy Hour in the evening that was attended by several of Ohio’s most powerful legislators, where Mike and Rick were able to delve into specifics with those legislators in a more casual environment.

Kudos to NAIOP Ohio for another successful Legislative Day!

Real Property Tax Challenge Bill to Become Ohio Law

Governor DeWine signed House Bill 126 on April 21, 2022, and it will officially become the law of Ohio 90 days later on July 21, 2022.  Passage of House Bill 126 is a great step in the right direction for the commercial real estate industry, and our lawyers were active in the process to help make this happen.

To learn more about the passage of this legislation, click here to review the final version of House Bill 126 that was passed.