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Mar 05, 2015

JobsOhio reports increased growth in 2014, plans to continue momentum in 2015
 

JobsOhio, a nonprofit corporation that works to drive job creation and new capital investments in the state, released its 2014 Annual Report and 2015 Strategic Plan, which reflects a significant increase over 2013, according to a recent press release. JobsOhio, along with its Network Partners, “successfully assisted 276 companies that committed to create 21,377 new jobs for Ohioans and make $6.1 billion in new capital investments,” according to the release. Those new commitments represent increases of nearly 20 percent for new jobs and 72 percent for capital investments over 2013 year-end metrics. JobsOhio’s strategic plan for 2015 is to “remain focused on accelerating job growth and increasing capital investment across businesses of all sizes” as well as to “ramp up efforts to strengthen workforce development programs.” To read the full 2014 report and 2015 plan, click here


 
Posted by R. McCarthy in  JobsOhio/ODSA   |  Permalink

 

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 Cleveland.com. 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

 

 

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