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CDFA Ohio Financing Roundtable Newsletter - April 2017
April 12, 2017
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CDFA Ohio Financing Roundtable Newsletter

Feature

Summit County Places $2M in DFA's Jobs & Investment Bond Fund
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.

Preservation Tax Credits Pursued for Cleveland's Terminal Tower
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.

$200K in Grants Support the Akron Community Revitalization Loan Fund
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.

ODSA Awards $22.8M in Historic Tax Credits
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 University Explores P3 for Energy
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 Will Back MetroHealth's Transformation Bonds
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.

Port Authority to Help Finance Massive Blue Ash Development
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.

HB 69 Could Drastically Modify TIF in OH
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.

OH House OK's Plan to Create State Bond Bank
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.

Upcoming Events

CDFA Ohio Conference
September 7, 2017 - Columbus, OH
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.

Intro Tax Increment Finance WebCourse
May 10 - 11, 2017 - Daily: 12:00 - 5:00 PM Eastern
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. 

Ohio News

Medina School Board Hears Tax Abatement Proposal
The Plain Dealer | Apr. 6 | Incentives

Ohio Continues to Attract Millennial Workforce
JobsOhio | Apr. 6 | Economic Development

Historic Tax Credits Bring Jobs, People to Downtown Cleveland
BizJournals | Apr. 3 | Brownfield Financing | Tax Credits

Site Clean-Up Money Secured for Former General Industries Site in Elyria
The Chronicle | Apr. 3 | Brownfield Financing | Incentives

Statewide Investments to Create $40M in New Payroll
Ohio Office of the Governor | Mar. 27 | Tax Credits

Huntington to Invest $17M in Cincinnati Affordable Housing
cincinnati.com | Mar. 24 | Tax Credits

OH Economic Development Results Improved in 2016
Crain's Cleveland Business | Mar. 23 | Economic Development

2016 Was a Record Year for the Cincinnati Port
Port of Greater Cincinnati | Mar. 20 | Bond Finance

Hercules Development Could Support Canton's Downtown
CantonRep | Mar. 19 | Historic Preservation | Urban Development


Sponsors

State Partner

Ohio Economic Development Association

Premium Sponsor

Bricker & Eckler LLP FBT Project Finance Advisors LLC Frost Brown Todd, LLC Ice Miller LLP KeyBanc Capital Markets Squire Patton Boggs Stifel Nicolaus Taft, Stettinius & Hollister LLP

For information about sponsoring the CDFA Ohio Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.


The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • Ballard Spahr LLP
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • Miles & Stockbridge P.C.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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