Transformational Mixed Use Development (TMUD) Tax Credit Consulting

Advisory support for developers navigating Ohio’s TMUD program.

Ohio’s Transformational Mixed‑Use Development (TMUD) Tax Credit Program is a competitive, state‑administered incentive program designed to support mixed‑use development projects across Ohio. Program requirements, scoring criteria, and award decisions are established and administered by the Ohio Department of Development (ODOD), and awards are made through a highly competitive, merit-based process with limited annual allocation authority.

Through Argus Growth Consultants, Inc., a wholly owned consulting subsidiary of Bricker Graydon Wyatt LLP, we provide advisory support to developers seeking to understand TMUD requirements, evaluate project readiness, and prepare application materials aligned with published program criteria. Our role is to help position projects strategically within the competitive framework established by the State while maintaining technical accuracy and credibility through disciplined financial analysis and coordinated application strategy.

What distinguishes our approach is the integration of incentive strategy, capital structuring, and public finance insight. Our team’s experience advising on tax increment financing, new community authorities, port authority transactions, and state-level incentive programs informs a practical understanding of how TMUD fits within broader public-private development frameworks.

TMUD Advisory Services

Argus Growth Consultants supports developers through each stage of the TMUD application process, from early readiness evaluation through post‑submission coordination. Our approach is collaborative and iterative, recognizing that successful TMUD applications require both technical accuracy and a clear articulation of how a project aligns with the State’s economic development objectives.

We typically begin by working with the development team to assess overall project readiness. This includes a review of project scope, timing, financing structure, economic impacts, and location characteristics against the TMUD program’s statutory requirements and publicly available scoring criteria. This early assessment is intended to help developers understand how TMUD may fit within their broader capital strategy and to identify areas where additional refinement may be beneficial before an application is submitted.

As the application takes shape, our team provides advisory support on application strategy and project structuring. This work focuses on helping developers frame their projects in a manner that is responsive to TMUD policy goals, supported by clear narratives and well‑documented assumptions. We work closely with clients to ensure that application materials are internally consistent, grounded in available data, and aligned with published program guidance. Where appropriate, we recommend adjustments to strengthen demonstrated transformational impact, fiscal return, and community alignment.

Financial analysis is a core component of the TMUD process. Our advisors prepare and review the financial models required for TMUD tax generation calculations. Argus coordinates with a qualified university-based economic research institute to prepare the required economic impact analysis utilizing nationally recognized modeling software. We help translate complex financial information into clear, supportable materials suitable for submission as part of a competitive, application‑based incentive program and assist in clearly presenting tax impacts, financing gaps, and return on investment considerations.

Argus also coordinates the assembly of the TMUD application and required supporting exhibits, working with client teams and other advisors as needed to manage inputs, deadlines, and submission requirements. We develop a structured submission timeline and internal checklist to ensure completeness and consistency before filing. Following submission, we remain available to assist with responses to clarification questions, requests for supplemental information, and other communications that may arise during the State’s review process and to support any required follow-up discussions.

Our objective is to help clients submit applications that are analytically sound, strategically positioned, and aligned with the State’s stated policy objectives, to secure funding.

All services are advisory in nature. TMUD award decisions are made solely by the State of Ohio, and no outcome can be guaranteed.

Experience

Members of Argus Growth Consultants and the Bricker Graydon Wyatt team have advised on a wide range of complex economic development and mixed‑use projects across Ohio, including:

• Large‑scale redevelopment and site development projects supported by competitively awarded state incentives
• Mixed‑use urban redevelopment projects involving tax increment financing, new community authorities, and public infrastructure financing
• Brownfield redevelopment and adaptive reuse projects
• Major public‑private development initiatives involving layered incentives, sales tax exemption, and financing structures
• Projects requiring coordination among state agencies, local governments, public utilities, and private capital partners

Project experience spans office, industrial, residential, retail, hospitality, healthcare, adaptive reuse, and infrastructure‑driven developments.

About Argus Growth Consultants

Argus Growth Consultants was established to provide consulting services in economic development, community development, and housing development. Our consulting services include incentive and tax credit application preparation, grant writing, financial modeling, capital stack development, project structuring, incentive studies, and related advisory services (exclusive of legal advice). Argus works collaboratively with Bricker Graydon Wyatt attorneys, when appropriate, to support complex public‑private development initiatives throughout Ohio and the region. This integrated approach allows clients to align incentive strategy, project structuring, and regulatory considerations in a coordinated manner.

Dayton Arcade

Dayton-Montgomery County

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Bricker Graydon Wyatt served as legal counsel to the City of Dayton and Dayton-Montgomery County Port Authority for a complex mixed-use urban redevelopment project that included new public, education, arts, and housing space within a historic commercial arcade building. Our team formed the Dayton Arcade New Community Authority to create property- and retail-based charge revenue to support financing and operations. Our lawyers structured the use of City loans and grants, abatements, TIF, NCA charges, and Property Assessed Clean Energy financing for this project. A key player in the project who helped win $13 million in TMUD tax credits recently joined the Bricker Graydon Wyatt team. David Williams was most recently Vice President of Development at Cross Street Partners, where he managed the redevelopment of the Greater Downtown Dayton, including the TMUD and historic tax credits applications.