Ohio Communities Accelerator Fund closes $7.5M transaction for sports complex

The Warren County Port Authority (WCPA)’s newly created Ohio Communities Accelerator Fund (OCAF) recently closed on its “first bond fund transaction,” a $7.5-million transaction for the Warren County Convention and Visitors Bureau and the Warren County Sport Complex at Union Village, according to a news release. The Complex, scheduled to open in 2019, “will welcome over 700,000 visitors and sports enthusiasts annually” to the county. Tourism is Warren County’s largest industry, with “over $2 billion in annual economic impact,” according to the release. 

The bonds were “privately placed at a fixed rate of 3.36%; Bricker & Eckler LLP served as Bond Counsel. OCAF is a lending program “designed to make capital available to public communities and private parties that seek to develop new or support existing capital assets.” 

Economic Development, Project Finance