Project Management Consultants (PMC, a Thompson Hine subsidiary) Financial Services is proud to announce that it helped clients secure more than $27.8 million in committed tax credits and grant funding in June 2026.
The most recent awards were the Cleveland area’s only Transformational Mixed-Use Development (TMUD) tax credit awards: $7 million each ($14 million total) for Project Scarlet, which involves the redevelopment of the Downtown Cleveland Rose and Sloan buildings, and Valor Acres Phase 2 in Brecksville, Ohio. The projects are expected to transform their neighborhoods through more than $225 million of investment supported by these tax credits. The Ohio Department of Development announced the awards on July 1.
“We’re incredibly grateful to PMC, our outstanding team of external partners, and the Ohio Department of Development for their continued partnership and support in securing Transformational Mixed-Use Development (TMUD) tax credits for Valor Acres,” said Mackenzie Makepeace, managing director of DiGeronimo Development. “This incentive is a testament to the collaborative effort behind the project and the State of Ohio’s commitment to catalytic economic development. The TMUD program provides critical support that enables transformative projects like Valor Acres to move forward, creating significant new jobs, attracting private investment, and strengthening the economic vitality of Brecksville and the greater Northeast Ohio region. We appreciate the confidence the State has placed in our vision and look forward to continuing our partnership as we deliver a vibrant mixed-use destination that will benefit the community for generations to come.”
The month’s historic preservation wins included three Ohio Historic Preservation Tax Credit (OHPTC) awards for projects in Cleveland and Akron, totaling $12.9 million. Governor Mike DeWine and the Ohio Department of Development announced the awards the week of June 22. The projects include the redevelopment of two historic buildings in Cleveland, and the planned redevelopment of another project in Akron. The awards will help catalyze more than $170 million in planned investment across the three projects.
In addition, PMC supported the City of Shaker Heights, Ohio, in securing a $945,000 federal grant from the U.S. Department of Transportation’s Innovative Finance and Asset Concession (IFAC) program.
“With competitive rounds for TMUD, OHPTC, and Brownfield funding expected to have application deadlines in Q3 2026 and awards by year-end 2026, applicants should be preparing now,” said Ken Kalynchuk, director and principal at PMC. “Strong applications take time to develop, and early planning can help projects present clear financing needs, demonstrate readiness and maximize their chances in highly competitive programs.”
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About PMC. Founded in 1997, Project Management Consultants LLC (PMC) is a wholly owned subsidiary of Thompson Hine LLP consisting of seasoned construction, design, finance and real estate professionals, including licensed architects, engineers, construction managers, financial strategists and experienced construction lawyers. PMC’s professionals have extensive experience in design, finance, construction consulting, construction management, partnering facilitation and owner’s representation, and work seamlessly with Thompson Hine’s lawyers to provide integrated services to the marketplace. PMC’s four primary services for the real estate, design and construction industries are owner’s representation, public and private financing consulting, project and risk management consulting, and design and construction partnering facilitation and mediation. For more information, please visit AboutPMC.com.