Posts Authored by John Caleb Bell

Greenfield selected for economic development opportunity

The City of Greenfield “has been awarded an opportunity to not only further economic development in the village, but development in the industrial park” as one of five communities in a 25-county region selected for the Prepared Communities Program, The Times-Gazette reports. That program, through OhioSE and Bricker & Eckler, provides six hours of free virtual economic development planning assistance to selected communities. City Manager Todd Wilkin called Bricker & Eckler the “gold standard in economic development stimulation,” and said the city is excited to work with the Columbus-based law firm and OhioSE, according to the article. For more, read the full article.

Economic Development, State Updates

Municipal port authority would expand Middletown’s economic development options

Middletown City Council is planning to dissolve its Community Improvement Corporation (CIC) and create a municipal port authority to “enable the city to address its unique economic development needs,” the Journal-News reports. Port authorities have the same powers as CICs as well as additional powers including creating sales tax exemption programs, loan funding at competitive rates, directly incentivizing specific community needs such as additional infrastructure, and facilitating job creation projects, according to the article. City Economic Development Director Chris Xeil Lyons “said the tax-exempt status of port authorities has the advantage of passing savings on to private economic development projects, thus making complex projects possible that might not otherwise happen.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Columbus ESID closes over $100 million in funding

On July 17, 2020, the Columbus Regional Special Improvement District (ESID)'s PACE financing program, administered by the Columbus-Franklin County Finance Authority, announced that they have now closed over $100 million in funding for local energy-related projects. Since 2015, the Columbus Regional ESID has provided a 32 percent average utility bill reduction and annual energy savings of $1.4 million in Franklin County. Congratulations to the ESID and Finance Authority teams, and a special congratulations to Jeremy Druhot for his hard work in making our local PACE financing program a nationally recognized success. For more, read the full press release.

Economic Development, Energy Efficiency, Financial Incentives, Project Finance

Dayton manufacturer’s $3M expansion includes PACE financing

Tomco Machining, a producer of tubular assemblies for commercial and military clients, is “on track to finalize a nearly $3 million project by mid-May,” which will enable them to expand their workforce, the Dayton Business Journal reports. The company’s new 24,000 square-foot building “will be about 70% larger” than its existing facility, which had no space to add new equipment, owner Jim Tomasiak said in the article. The Dayton-Montgomery County Port Authority authorized “a little under $1 million” in Property Assessed Clean Energy (PACE) financing for the project, which “incorporates several energy-efficient design elements, including high-efficiency insulation, HVAC, efficient lighting and solar panels.” For more, read the full article.

Energy Efficiency, Project Finance

ESID will allow $30M Traditions of Lebanon facility to use PACE financing

Lebanon City Council and the Warren County Port Authority established an energy special improvement district (ESID) that will allow a retirement community developer to use Property Assessed Clean Energy (PACE) financing, the Journal-News reports. Leo Brown Group is expected to use nearly $7.9 million of PACE financing through Petros PACE Finance Trust to fund construction of the Traditions of Lebanon 170,000-square-foot senior living community, according to the article. Energy savings “are anticipated from HVAC improvements, LED lighting, energy-efficient windows and doors and the ‘building envelope.’” For more, read the full article.

Economic Development, Energy Efficiency, Project Finance, State Updates

PACENation 2020 Annual Summit coming to Columbus

PACENation, a national trade association providing education, advocacy and resources for PACE financing, selected Columbus, Ohio, as the site of its 2020 Annual Summit, which will be held March 30-April 1. Bricker is on the Host Committee and is a conference sponsor, and we welcome our public sector, development and energy colleagues to attend. Registration is available online via the conference event page.  

Energy Efficiency, Financial Incentives, Renewable Energy, State Updates

Summary of 2019 PACE transactions in Ohio

In an upward climb, Ohio’s investment in property assessed clean energy increased by over 42 percent from 2018 to 2019. Want to know the details? Check out Bricker’s interactive map of #PACE programs across the state.

 

Economic Development, Energy Efficiency, Project Finance, State Updates

Canadian auto parts supplier to open first U.S. facility in Toledo

Toronto-based Axiom Group Inc., an auto parts manufacturer, plans to start construction soon on a new manufacturing plant in central Toledo “and create at least 250 new jobs,” The Toledo Blade reports. The facility will be Axiom’s first in the United States. The project “is contingent on receiving an incentive package” from JobsOhio and the Ohio Tax Credit Authority, and will receive loans from Lucas County Builds, “a development loan program created by the Lucas County Commissioners’ office,” according to the article. Perry Rizzo, president and CEO of Axiom, said, “[w]e see investing in Toledo as a fantastic location for our latest facility and we are pleased with the government support and the ‘open for business’ attitude.” For more, read the full article.

Economic Development, Financial Incentives, State Updates

Steel manufacturer plans Dayton area expansion, doubling its local workforce

Epix Tube Company, a steel manufacturer headquartered in Trotwood, “is planning to grow its Dayton-area operations with the purchase of a new facility,” an expansion that would add 60 to 75 new full-time jobs within the next five years, the Dayton Business Journal reports. Epix is looking to acquire a 278,000-square-foot facility on Marion Street in southwest Dayton; the company plans to perform upgrades to the site and purchase new equipment and machinery. The City of Dayton has “extended a $150,000 development grant” for the project and has requested $250,000 in Montgomery County Economic Development/Government Equity grant funding to help defray the cost of expansion. The new positions created by the expansion will generate between $2.9 million and $3.6 million in annual payroll. For more, read the full article.

Economic Development, Financial Incentives, State Updates

Greater Cincinnati Energy Alliance has record-breaking year for PACE financing

Bricker & Eckler LLP congratulates Greater Cincinnati Energy Alliance (GCEA) on a record-breaking year in Property Assessed Clean Energy (PACE) financing transactions. In 2019, GCEA has closed 24 PACE loans valued at nearly $27 million, more than doubling their 2018 total. GCEA is a nonprofit organization with a mission to facilitate investment in energy efficiency and renewable energy projects to reduce carbon emissions. 

Energy Efficiency, Environmental, Project Finance, Renewable Energy, State Updates