Summit County says the math works out like this: $2 million in county government funds will create $14 million in new economic development and jobs. Government officials on Monday announced what they call Summit County's Down-Payment for Jobs.

A key first step is underway in transforming Cleveland's Terminal Tower for the live, work and play era of downtown development with the addition of apartments. Willoughby-based K&D Group seeks a state tax credit for $5 million of qualified rehabilitation work in adding apartments to the 52-story office building.

Akron Children's Hospital and the FirstEnergy Corp announced their commitment to Akron through two $100,000 grants to the Development Fund of the Western Reserve (DFWR) to support the Akron Community Revitalization Fund.

The Ohio Development Services Agency recently awarded $22.8 million in Ohio Historic Preservation Tax Credits to 18 applicants planning to rehabilitate 33 historic buildings. Together, the projects are expected to bring approximately $225.6 million in private investment in 12 communities.

Ohio State has proposed a plan to receive its largest investment in the university's history by selling its energy to the highest bidder. This continues the trend of OSU privatizing its resources, which began with its CampusParc deal in 2012. The 50-year, $483 million deal was also the largest of its kind.

Cuyahoga County and the MetroHealth System have reached a deal that will save the hospital system $160 million on its plans to borrow about $1 billion to transform its main campus on West 25th Street.

The Port of Greater Cincinnati Development Authority will use $24 million in TIF revenue bonds to finance public infrastructure improvements for a mixed-use development  in Blue Ash, Ohio. The economic impact is expected to be $110.5 million in direct spending plus another $14.9 million in indirect spending.

A proposed state law that would exempt some township fire and EMS districts from municipal-approved tax-increment-financing agreements could make TIFs ineffective for cities, according to Hilliard Mayor Don Schonhardt. Conversely, representatives for local townships say the bill would balance the playing field.

The Ohio House voted to create a state bank to provide low-cost loans to help local governments that have struggled to maintain their roads and buildings, let alone build anew. The State Bond Bank would be created to make loans to local governments for permanent improvements with a life span of at least five years.

Join the CDFA Ohio Financing Roundtable, in partnership with OEDA, for the ninth annual conference. This event will feature a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the Ohio economy going forward.

This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders. 

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