It should come as no surprise that the Ohio Department of Development has awarded a nearly $1 million tax credit for restoration of the Franklin Hotel in downtown Kent.
The ODOD announced Tuesday that developer Ron Burbick's $5.8 million restoration project to turn the old Kent hotel into Acorn Corner will get a $955,750 tax credit.
While applying earlier this year, Burbick learned the project was a virtual lock for state and federal tax credits due in large part to its 80-point score on a 100-point rating scale.
Restoration work on the brick facade is already under way.
In May, Burbick told the Kent Planning Commission that he already has committments from tenants to fill the entire building when it is scheduled to reopen later this year.
For complete coverage of this story, follow our Kent Patch topic page created exclusively for the old hotel restoration.