Bricker & Eckler to present American Rescue Plan Act of 2021 webinar for Toledo Regional Chamber of Commerce

Bricker & Eckler will present a free webinar, "American Rescue Plan Act of 2021 (ARPA) Impact on Local Governments and Small Businesses," for the Toledo Regional Chamber of Commerce, Tuesday, April 20, at 2:00 p.m. EDT. The American Rescue Plan Act was signed into law on March 11, 2021. Many Americans have already begun receiving their “stimmies” - one of the most well-known aspects of the stimulus package. For the lesser known provisions – including large sums to be paid to local governments and small businesses - Bricker attorneys Jeff Harris, Jackie Lewis and Brooke Mangiarelli will provide an overview presentation and take questions from attendees. The webinar is open to Chamber members and non-members alike. Register here >>

Economic Development, Federal Updates, Financial Incentives, Project Finance

Bricker closes Northern Michigan PACE project

Treetops Resort in Otsego County recently closed the first PACE project in Northern Michigan, a transaction over $2.9 million, for a renovation that will include a comprehensive energy efficiency upgrade. Bricker & Eckler, LLP served as counsel to the lender, Inland Green Capital. Barry Owens, Treetops Resort general manager, said the PACE project funding will enable improvements that guests will “not only see — but also feel” and reduce the resort’s carbon footprint. The renovation is expected to save the ski and golf resort over $3.3 million while helping to meet its latest sustainability goals. 

Energy Efficiency, Environmental, Project Finance

Bricker & Eckler’s Bell to present PACE financing at Smart Columbus Energy webinar

Learn more about PACE (Property Assessed Clean Energy) financing at Smart Columbus Energy’s online event featuring a presentation by Bricker & Eckler’s Caleb Bell. A new initiative through Smart Columbus enables Central Ohio energy buyers to collaboratively purchase cost effective, Ohio-based renewable energy. Bell will discuss how Midwest property owners can use PACE financing to unlock energy-saving and renewable energy opportunities with no upfront costs. The presentation will include an overview of PACE programs available throughout Central Ohio and example transactions. To register for this event, click here.

Economic Development, Project Finance, Renewable Energy, State Updates

Columbus-Franklin County Finance Authority’s 2020 was success despite pandemic

Despite the “chaos and uncertainty” of the COVID-19 pandemic and resulting economic slowdown, the Columbus-Franklin County Finance Authority (CFFA) said in a recent news release that the organization’s “transaction level remained strong” in 2020. The Finance Authority “was involved in 23 transactions representing more than $291 million in development financing and loans,” with projects including Grandview Crossing, Dublin’s Bridge Park, and The Peninsula in Franklinton. The Finance Authority also introduced its new Neighborhood Improvement and Small Business Loan program and supported the Columbus Regional Energy Special Improvement District (ESID). For more, read the full news release.

Economic Development, Project Finance, State Updates

Second downtown Dayton investment fund created to fill funding gaps

The newly created Downtown Dayton Investment Fund 2 (DDIF2) has launched “to help businesses, developers and entrepreneurs fill in funding gaps for real estate development and tenant improvements,” the Dayton Daily News reports. DDIF2, which has already raised “nearly half of its $5 million goal,” will support “catalytic projects by offering expanded financial tools, such as debt loan products and tenant improvement assistance,” and is intended to complement the original fund, according to the article. Officials said DDIF2 “will be able to help surrounding working-class neighborhoods and areas near downtown that the city of Dayton has targeted for redevelopment.” For more, read the full article.

Economic Development, Project Finance, State Updates

Bricker & Eckler, with national and state partners, to host PACE market update webinar

Bricker & Eckler, along with national and state partners, will host a webinar Tuesday, January 12, 11:00 a.m. - 1 p.m. EST, to recap significant PACE industry developments from 2020 and preview what’s on the horizon for 2021. The webinar will focus on the Ohio, Kentucky, Michigan and Pennsylvania markets. Special guest Colin Bishopp, Executive Director of PACENation, will share a national perspective of the PACE landscape. More information >>

Energy Efficiency, Federal Updates, Financial Incentives, Project Finance, State Updates

JobsOhio will pay $200,000 for SpaceX satellite broadband test in Allen Township

JobsOhio “has signed SpaceX for a yearlong test of wireless broadband” in Union County’s Allen Township “to determine if it could expand access for rural areas across the state,” Columbus Business First reports. JobsOhio will pay $200,000 for 90 households and 10 small businesses to sign up for SpaceX’s Starlink service; participants will not pay for the service. Lt. Gov. Jon Husted said the pilot program “will be one of the first in the nation to look at this issue and see if it has broader applications,” according to the article. SpaceX has launched “the first 900 satellites in what will be a much larger network, and is beta testing its broadband in the northern United States.” For more, read the full article.

Economic Development, Project Finance, State Updates

Inaugural loan from new CFFA program will fund community center

The Columbus-Franklin County Finance Authority (CFFA)’s newest offering, the Neighborhood Improvement and Small Business Loan program, has granted its first loan to Community Development for All People to acquire and renovate a Parsons Avenue building that will provide “a much-needed community center,” according to a CFFA press release. In that release, CFFA President Jean Carter Ryan said the $367,000 loan “perfectly fits the program’s objective of stimulating investment in areas of need and serving a greater community purpose.” John Edgar, Executive Director of Community Development for All People, said the building will offer classrooms for remote learning and internet-connected computers to facilitate online job applications and telemedicine appointments. For more, read the full news release.

Economic Development, Project Finance, State Updates

Ohio General Assembly considering significant CRA law change during lame duck session

A new proposal in the Ohio legislature would render commercial and industrial Community Reinvestment Area (CRA) projects akin to “pre-1994” treatment. Ohio’s CRA program was initially created as a housing program in the late 1960s but quickly became a frequently used tool for addressing disinvestment in commercial and industrial settings. In 1994, after recognizing that the program was frequently being used to abate property taxes in commercial and industrial projects, the Ohio General Assembly made major revisions to the state’s CRA Program. As a result, the statutory provisions governing those CRAs designated before July 1, 1994, differ considerably from those governing CRAs designated after July 1, 1994. For more, read the full article

Economic Development, Project Finance

Webinar: Revitalize Blighted Properties With Land Banks

Bricker & Eckler attorneys Jeff Harris and Ty Compton, and Cuyahoga Land Bank President and General Counsel, Gus Frangos, will present a webinar, Thursday, November 19, 1:00-2:30 p.m. EST. Designed to inform developers how to drive stabilization, revitalization and economic growth in communities, this webinar will feature best practices for land bank programs.

Land banks are proven tools to remove blighted structures and acquire problem properties in post-industrial legacy cities and neighborhoods across the U.S. The process of land banking – whereby quasi-governmental entities acquire and manage properties that are tax delinquent and unoccupied, striving to return them to the open market – is getting a closer look as a possible response to the COVID-19 public health emergency. This presentation will review the national land bank movement and undertake a critical assessment of the Ohio land banking model.

For more information or to register, please click here.

Economic Development, Financial Incentives, Project Finance
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