Posts Authored by John Caleb Bell

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. For more about the Greater Cincinnati Energy Alliance, click here.

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

Ohio plans to become fourth state to offer residential PACE financing

Joining California, Florida and Missouri, Ohio will soon be the fourth state to offer residential PACE (property assessed clean energy) programs. The City of Bexley in Franklin County and the City of Toledo in Lucas County have authorized agreements with the Toledo-Lucas County Port Authority to offer residential PACE (RPACE), allowing homeowners in those cities access to low-interest loans for energy efficiency improvements. Summit County will make RPACE financing available to homeowners in communities that have joined the Akron-Summit County Energy Special Improvement District (ESID), Cleveland.com reports. Homeowners who “are making energy efficiency improvements” to “HVAC, furnace, roofing, windows and doors, insulation” and other systems “can finance the up-front costs and then pay back the loans through a voluntary assessment” on their property tax bill, according to the article. Residential PACE is expected to roll out statewide by the end of 2019. For more on Summit County RPACE financing, read the full article.

Energy Efficiency, Project Finance, State Updates

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

The Energy Exchange: Charging Toward the Future event May 9, 2019

Please join us for Bricker & Eckler’s biannual Energy Exchange event to discuss updates on legal and policy issues surrounding electric vehicles in Ohio. Featuring State Representative Kent Smith; Mark Patton, Vice President at Smart Cities, Columbus Partnership; and David Schatz, Director of Public Policy at ChargePoint, Inc., we will discuss the impact of the electric vehicle industry and the growing need for EV charging stations to meet the increasing demand.

To register for the May 9, 2019 Energy Exchange, click here.

Environmental, Smart Cities, State Updates
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