$72M One Lakewood Place expected to get green light

Lakewood City Council is expected to approve a major mixed-use project for the city-owned former Lakewood Hospital site that could begin construction this summer, Cleveland.com reports. The proposed $72 million One Lakewood Place “calls for 100,000 square feet of office, 80,000 square feet of retail, 200 housing units with both lease and for-sale options, a .5-acre public plaza, parking garage and the historic renovation of the Curtis Block,” according to the article. City Council President Sam O’Leary said, “[w]e’re at the final approval stage for basically what amounts to a rezoning of the property to a planned development (PD) district designation in our code.” When completed, the project will “provide more than $1.5 million annually to the city and schools” in property and income taxes. For more, read the full article.

 

Economic Development, State Updates

Ohio Supreme Court decides: FirstEnergy grid modernization rider unlawful

On June 19, 2019, in a 4-3 decision favorable to Ohio consumer interests, the Ohio Supreme Court reversed the Public Utilities Commission of Ohio’s (PUCO) order that allowed FirstEnergy to collect between $168 million and $204 million per year through the controversial Distribution Modernization Rider (Rider DMR). For more, read the full story.

State Updates

DOE funding projects to develop next-gen wind turbine drivetrain technologies

Four projects that “will develop more efficient, smaller and lighter-weight generators” for wind turbines “to lower costs and make wind power more affordable” will receive funding from the U.S. Department of Energy (DOE), nawindpower.com reports. The DOE has “selected four projects totaling up to $8 million to develop next-generation wind turbine drivetrain technologies for onshore and offshore applications,” according to the article. Two projects, by ABB Inc. of Raleigh, NC, and WEG Energy Corp. of Duluth, GA, “are developing direct-drive permanent-magnet designs.” The other two, by American Superconductor Corp. of Ayer, MA, and GE Research of Niskayuna, NY, “will develop superconducting generators.” The DOE will select one project “to receive up to $6.4 million to build and test a scaled prototype of the generator on a wind turbine.” For more, read the full article.

Federal Updates, Project Finance, Renewable Energy

South Field Energy $1.3B investment benefits community, school district

South Field Energy LLC’s project to build “a modern, technologically sophisticated combined-cycle electrical generation plant” in Wellsville, Ohio, is “one of the largest single construction projects” as well as one of the largest single investments the region has seen, The Business Journal reports. Operating Engineers Local 66 business agent Carlton Ingram said the project “expects to have more than 1,000 tradesmen at the site” during peak construction, according to the article. South Field has paid $1.7 million to the Wellsville School District during the construction phase, and will pay the district $1.3 million annually for 15 years when operational. For more, read the full article.

Economic Development, State Updates

Coal “no longer dominant source” of electricity in Ohio

As coal competes with cheap, abundant natural gas for power generation in Ohio, it has “gone from powering 87 percent of the state’s homes, stores, offices and factories to 47 percent” in “just a dozen years,” according to a recent article in The Columbus Dispatch. Natural gas “generated 34 percent of the state’s power last year,” an increase of 10 percentage points in one year, the article reports. Columbus-based American Electric Power, one of the largest power companies in the United States, “has slashed its carbon dioxide emissions 59 percent since 2000 with a goal of an 80 percent reduction by 2050 as the company moves away from coal to natural gas and renewable sources such as wind and solar.” Natural gas has surpassed coal nationally as the top source of power, at 35.1 percent compared to coal’s 27.4 percent. For more, read the full article.

Environmental, Renewable Energy, State Updates

Delaware County 2,000-acre Berlin Business Park would focus on commercial, light industrial

Officials in Delaware County are working on plans for a “massive new business park” in Berlin Township, on “about 2,000 acres of mostly rural land,” Columbus Business First reports. Bob Lamb, the county’s economic development director, said “the intent is for commercial and light industrial businesses to occupy major parts of the land, with some room for retail and medical offices.” Delaware County is planning to invest “in major infrastructure work to support the development”; once the site is ready to be developed, the county “will roll out a host of incentives” including a Community Reinvestment Area tax credit and access to bond financing, among others. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Zanesville begins talks about new Downtown Redevelopment District

The City of Zanesville is considering a request from property owners to create a new Downtown Redevelopment District (DRD), the Zanesville Times Recorder reports. Zanesville currently has a DRD “containing portions of Third, Fourth, South and Main streets”; the new DRD would be “based on the properties located around Sixth Street,” according to the article. Property owners and the city “would benefit from the payments derived from the increased assessed value of any improvement to real property” if the DRD is established. The city could pull up to 70% of the increase in value “and use that money to help historical properties with improvements like repairing facades or fixing code corrections,” among others. For more, read the full article.

Economic Development, Financial Incentives, Project Finance

First quarter of 2019 propels U.S. wind power construction to record level

U.S. project developers announced new wind farms with a total capacity of 6,146 megawatts (MW) in the first quarter of 2019, propelling “the total volume of U.S. wind power construction and development activity to a record level,” nawindpower.com reports. The article cites American Wind Energy Association (AWEA)’s newly released “U.S. Wind Industry First Quarter 2019 Market Report,” which shows this additional capacity brings the United States to “a new record of 39,161 MW” in development. Tom Kiernan, CEO of AWEA, said, “America’s largest source of renewable energy generating capacity is on a path to grow by 40 percent in the near term. In doing so, we’ll create thousands of additional American jobs and new economic opportunities for factory towns and rural communities across the country.” For more, read the full article.

Economic Development, Federal Updates, Renewable Energy

Winston named as new president and CEO of Toledo-Lucas County Port Authority

The Toledo-Lucas County Port Authority’s board of directors voted unanimously to promote current vice president of administration and chief financial officer Thomas Winston to its top leadership role, The Toledo Blade reports. President and CEO Paul Toth will retire after leading the authority since 2009, and Winston will assume that role beginning September 1, 2019. The port board formed a search committee late last year, but “quickly identified Mr. Winston as its top candidate and scrapped plans to conduct a national search,” according to the article. Port board vice chairman Sharon Speyer said Winston is passionate about the community and has the skill set and vision to execute today and “in the next 10 years from an economic development standpoint.” DevelopOhio and Bricker & Eckler LLP congratulate Thomas Winston on his new position. For more, read the full article.

Economic Development, State Updates

Ohio House energy reform bill: “most significant rewrite” of energy laws in over a decade

A bill to create the Ohio Clean Air Program would enact the biggest changes to the state’s energy laws in more than 10 years, providing “incentives to build and maintain power plants that have zero or reduced emissions of carbon dioxide,” The Columbus Dispatch reports. House Bill 6 “would impose a monthly fee of 50 cents in 2020 and $2.50 after that on the electric bill of residential consumers,” with commercial and industrial users paying more. The bill “would eliminate charges averaging $4.39 per month” designed to help consumers reduce electricity consumption, thereby resulting in net savings for those customers. The new monthly fees would generate an expected $300 million annually by 2021; the Ohio Air Quality Board “would determine how the money is shared among the state’s power companies.” For more, read the full article.

Environmental, State Updates
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10