Toledo-Lucas County Port Authority’s 2022 plans include expansion of bond fund lending

President of the Toledo-Lucas County Port Authority Thomas Winston recently outlined plans for the organization to expand its role in financing business expansion in the region in 2022, The Toledo Blade reports. The port authority owns the Northwest Ohio Bond Fund, which “loans for regional economic development projects,” such as the recent issuing of “$8.8 million in tax-exempt bonds for improvement in H.B. Magruder Memorial Hospital in Port Clinton,” according to the article. The bond fund’s most recent report shows $133.2 million in total outstanding loans; Winston said within 18 months the bond fund could be at $200 million. “There are a number of projects around that require access to capital and many entities are looking to the Northwest Ohio Bond Fund to provide that source of capital,” Winston said, adding that the port authority’s top priority is maintaining financial stability. For more, read the full article

Economic Development, Project Finance, State Updates