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Feb 25, 2015

Dublin looks at new economic tool for Bridge Street District development

Dublin City Council is hoping to use a New Community Authority (NCA) “to encourage development in the Bridge Street District,” ThisWeek Community News reports. The NCA would, if approved and established, “help Crawford Hoying develop the area . . . that lies east of Riverside Drive and north of state Route 161,” according to the article. That area would be called Bridge Park East, and it “is expected to bring offices, apartments, condos, retail space, restaurants, a hotel and more to the area.” The NCA would levy service charges to be used to fund parking structures and “public facilities such as a performing arts center.” Dublin City Council member John Reiner said of the proposed NCA, “[w]ith this the city is not putting city tax money or its financial situation in jeopardy. It’s a very interesting and positive possible scenario for the development of Bridge Street.” Several steps remain in the process to establish the NCA, including a public hearing, approval from the city council, and the appointment of representatives to a board of trustees. For more, read the full article.

Posted by R. McCarthy in  Financial Incentives  Regional Updates   |  Permalink


Feb 23, 2015

HB 72 would authorize port authorities to create energy special improvement districts

A bill recently introduced in the Ohio House would enable port authorities to finance and coordinate special energy improvement projects through the creation of energy special improvement districts. State Representative Margaret Conditt (R-Liberty Township) introduced House Bill 72 (HB 72), “[t]o authorize port authorities to create energy special improvement districts for the purpose of developing and implementing plans for special energy improvement projects and to alter the law governing such districts that are governed by a nonprofit corporation.” To read the entire text of the bill and to follow its development, click here

Posted by R. McCarthy in  State Updates   |  Permalink


Feb 17, 2015

Second community-authority tax district under consideration in New Albany

New Albany City Council held a public hearing in conjunction with the first reading of an ordinance to create the New Albany East Community Authority district on February 3, 2015, ThisWeek Community News reports.  The city’s proposed second community authority would encompass “742 acres in the Licking County portion of the International Personal Care and Beauty Campus and land south of state Route 161 designated as a future business campus,” the article reports. This district would “differ from the New Albany Community Authority in several ways.” It would have “no official limit on debt that could be incurred to complete local projects” and would not have an expiration date; the New Albany Community Authority was “designed to be dissolved when debt is paid off.” The new district could be dissolved by a majority vote of its board at any time if its debt is paid off, according to Jennifer Chrysler, New Albany’s community-development director. A second public hearing is scheduled for 6:30 p.m., February 17, 2015, at New Albany Village Hall. For more, read the full article

Posted by R. McCarthy in  Regional Updates   |  Permalink


Feb 13, 2015

Developers of Cleveland’s Flats East Bank propose new community authority

Cleveland City Council is currently considering a developer’s petition to establish a new community authority in the city’s Flats East Bank waterfront project, reports Among other things, the new community authority could impose community development charges on the property in the project “to pay for future improvements and maintenance.” The Wolstein Group and Fairmount Properties, as developers of the project, have proposed a 1.5 percent sales tax, a 2 percent parking tax, and a 2 percent bed tax in addition to the city’s existing tax rates; they would expect to raise about $30 million over the 30-year term of the new community authority. While a draft of their petition “provides a broad outline of possible uses for the money” that includes advertising, festivals and community events, security, and operating costs, among others, some council members “were concerned that the legislation did not adequately specify how the developers could spend the money.” The request was sent back to the council’s Finance Committee for further review. For more, read the full article.

Posted by R. McCarthy in  Regional Updates   |  Permalink


Feb 04, 2015

Collaboration between Butler and Warren port authorities will benefit both

The executive director for Warren County’s port authority, Martin Russell, will lend his expertise to help the Butler County port authority in securing development deals, reports the Journal-News. The consulting agreement will benefit both organizations, officials on both sides say. “They have perhaps a bit more experience under their belt and some things they have encountered that we hadn’t yet and (we discussed) how we can develop a relationship that would help us benefit from some of that, but would also ensure we are fully protected (against potential conflicts),” Butler County Port Authority representative Denise Quinn said. Chairman of the Ohio Council of Port Authorities Harry A. Eadon, Jr., called this type of regional approach not uncommon and something that should be encouraged, saying, “…we’re in a broader economy regionally than what just one county has. Cooperating and collaborating with each other is actually a much better idea.” Quinn “said the port is in a much better position now to consider grander scale deals, with the help of Russell.” Butler County will pay Warren County a monthly stipend. For more, read the full article

Posted by R. McCarthy in  Regional Updates   |  Permalink


Jan 28, 2015

Portsmouth bypass will be ODOT’s first public-private partnership

A planned $429 million bypass around the city of Portsmouth in Scioto County will be the largest project in the history of the Ohio Department of Transportation (ODOT), and it will also be the first public-private financing partnership, reports The Columbus Dispatch. A new mechanism adopted in 2011 “allows the private sector to build and pay for public transportation projects while the state repays them over time,” according to the article. “It’s kind of like when you buy your house (with a mortgage). You get the road up front,” said ODOT spokeswoman Melissa Ayers. The total cost to taxpayers has not been determined yet; ODOT will use “a combination of federal funds that in past years have been earmarked for Appalachian highways and other construction money” to make payments over the 35-year contract. The 16-mile bypass will link Route 23 and Route 52, allowing drivers “to avoid about 26 miles of Rts. 23 and 52 and a slew of stoplights through Portsmouth.” Construction is expected to take about four years. For more, read the full article

Posted by R. McCarthy in  State Updates   |  Permalink


Jan 26, 2015

Development boom turning West Chester, Liberty Township into a metropolis

Eight development projects are scheduled to open in 2015 in the West Chester/Liberty Township area, creating a new destination location in the “I-75 Growth Corridor” between Cincinnati and Dayton, reports the Journal-News. Three hotels, the $350 million mixed-use Liberty Center, Cincinnati Children’s Hospital’s expansion including a fourth floor and a proton therapy center, and Butler Tech’s bioscience training facility are all part of “the next wave of development in this hot spot between Cincinnati and Dayton.” Joe Hinson, president of West Chester-Liberty Chamber Alliance, said “We’ve become a small area of farmland now transitioning into a metropolis…with two central business districts and also now becoming a more regional draw for our entire area,” which includes Ohio, Indiana, and Kentucky.  The Liberty Center, which will encompass more than 1 million square feet of "retail and dining, residential and office space,” has been designed with future expansion already in mind that could “more than double the floor space,” according to Bloomberg Businessweek. “It’s projected that within the next 10 to 15 years, this will be a top 10 metro area within the U.S.,” Hinson said in the Journal-News article. For more, read the full Journal-News and Bloomberg Businessweek articles.

Posted by R. McCarthy in  Regional Updates   |  Permalink


Jan 08, 2015

$1 million economic development pilot program will support “stage two” businesses

A new pilot program aimed at supporting middle-range businesses was amended into a lame duck sales tax holiday measure, according to a recent Gongwer report. The Economic Gardening Technical Assistance Pilot Program “aims to provide eligible businesses assistance with market research and marketing as well as creating connections with trade associations, academic institutions, business advocacy groups, mentor programs and other businesses,” during its two-year pilot operation. Rep. Michael Stinziano, who “sponsored measures to create the program,” said that “while the state works to attract and retain big businesses through JobsOhio and provides assistance to budding entrepreneurs through numerous programs, the economic gardening program will support middle-range or so-called ‘stage-two’ businesses that aren’t new but also don’t necessarily have significant national or international reach.” To be eligible for the program, businesses must have been located in Ohio for the last two years, employ between six and 99 employees, and generate revenue between $750,000 and $25 million. Additionally, companies must have “recorded increases in gross revenue and the number of full-time Ohio employees during three of the past five years.” Stinziano said research into similar programs in Indiana, Michigan and Florida “supports his theory that the program could increase jobs and revenue among Ohio’s stage two businesses and those who work for them.”

Posted by R. McCarthy in  State Updates   |  Permalink






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