Proposed $30M redevelopment would revive historic Dayton high-rise

Columbus-based developer The Windsor Companies has plans for a $30-million transformation of Grant-Deneau Tower, Dayton’s first modern skyscraper, into luxury apartments, a hotel, office and retail space, Columbus Business First reports. Eric VanZwieten, head of marketing and public relations for Windsor, “said there is no specific timeline for the project, as financing must be secured before it can fully move forward,” according to the article. Grant-Deneau is eligible for federal and state historic credits, and it is located in the downtown Dayton Community Reinvestment Area, making it eligible for a property tax abatement. Securing financing “through these means will likely be critical for the project’s success.” The building resides in an Opportunity Zone (see our April 5, 2019 blog post) as well. For more, read the full article

Economic Development, Financial Incentives, Project Finance, State Updates

Lucas County PACE program benefits homeowners

The Toledo-Lucas County Port Authority’s pilot program to expand Property Assessed Clean Energy (PACE) financing to homeowners has “brokered more than $400,000 in loans to 39 dwellings,” The Toledo Blade reports. Elana Echols used the program to finance a new, energy-efficient furnace, and “said the lower energy bills she paid during the winter offset the higher amount on her property tax,” according to the article. Port authority leaders “are now working to expand the residential PACE program to a statewide initiative.” Columbus, Cleveland, Toledo, Akron and Canton have already signed on to participate. Paul Toth, outgoing president and CEO of the port authority, “said he believes the full program will be up and running by the end of the year.” For more, read the full article.

Energy Efficiency, Project Finance, State Updates

Green joins Akron-Summit County ESID

Local businesses in the City of Green will have access to grant funding for energy improvements, now that the city has entered into the Akron-Summit County Energy Special Improvement District (ESID), CantonRep.com reports. Councilman and intergovernmental and utilities committee chair Stephan Dyer said joining the ESID will allow businesses to apply for the funding for projects such as energy efficient lighting or roofing upgrades. Additionally, Summit County will be able to finance a light bulb replacement project for a county property in Green. For more, read the full article.

 

Energy Efficiency, Project Finance, State Updates

Brooklyn uses NOPEC grants for two LED lighting upgrade projects

The City of Brooklyn is using grants from the Northeast Ohio Public Energy Council (NOPEC) to fund two LED lighting upgrade projects, creating energy cost savings, Cleveland.com reports. Mayor Katie Gallagher said $39,000 from a 2017 NOPEC award is being used to upgrade street pole lighting on its main thoroughfares, involving 187 lights. Additionally, a 2018 $37,000 award will be put toward a “$50,000 lighting upgrade taking place at the John M. Coyne Recreation Center,” according to the article. That project will include “rec center lights, outdoor lighting in the rec center and pavilion lights in the parks.” Gallagher said projects such as these that reduce costs benefit the residents of Brooklyn “because then we can reallocate those savings to something else that they see directly in other services.” For more, read the full article.

Energy Efficiency, Project Finance, State Updates

Twinsburg plans to install EV charging stations with NOPEC grant money

Electric vehicle (EV) owners in the Twinsburg area may soon have more options to charge away from home, as the city plans to install one or more EV charging stations, MyTownNEO reports. Mayor Ted Yates said at a recent City Council meeting “the city’s $42,000 energized community grant from the Northeast Ohio Public Energy Council [NOPEC] will likely be used to create at least one station,” according to the article. Yates said “if the price is right” the city may consider multiple charging station locations, with installation complete by August or September. The primary goal of energized community grants “is to help communities implement energy savings or energy infrastructure measures.” Twinsburg has used previous grants to improve lighting in city buildings. For more, read the full article.

Environmental, Project Finance, 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

Cincinnati Development Fund receives $40M allocation for economic development

An Over-the-Rhine-based nonprofit lending institution, Cincinnati Development Fund Inc., that “fills gaps not covered by traditional lenders,” received a New Markets Tax Credit allocation of $40 million, the Cincinnati Business Courier reports. Joe Huber, chief operating officer of Cincinnati Development Fund, said “the allocation will allow the organization to partner with other community development entities to stretch its $40 million allocation to as many projects as possible,” helping “a number of projects come to fruition that otherwise would not happen,” according to the article. Huber said the goal of the program “is to drive investment into underserved communities, stimulate economic development, and create quality jobs and opportunities for all residents of these distressed communities.” For more, read the full article.

Economic Development, Project Finance, 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

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

Delphos kicks off Energy District with city project

Businesses, government, healthcare, and educational facilities in Delphos have access to Property Assessed Clean Energy (PACE) financing now that the city is an Energy District, the Delphos Herald reports. Safety Service Director Shane Coleman “signed the paperwork for an $8,000 loan . . . for an energy-efficient lighting project at the water treatment plant,” kicking off the Energy District, according to the article. The district is sponsored by “the Toledo-Lucas County Port Authority through its Betterbuildings Northwest Ohio [BBNWO]”; financing will come from the BBNWO’s PACE program. Eligible projects include upgrades to energy efficiency for lighting, HVAC, and refrigeration, among others. For more, read the full article.

Energy Efficiency, Financial Incentives, Project Finance, State Updates
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