Port authority financing for the future one
Published on: Mar 4, 2016
Transcripts - Port authority financing for the future one
SOUTHWEST OHIO PORTAUTHORITY REGIONALPARTNERSHIP Collaborations and Partnerships
Port Authorities in OhioAll types of projects includingarenas, conventioncenters, museums, hospitals, clinics, officebuildings, manufacturing facilitiesetc.Ohio Revised Code 4582
S Investment in the Region makes sense:W Port Authorities for financing and fundingO Educational Institutions like Miami UniversityHI for training and resource developmentO Economic Development professionals at the local level to support and assist project development
SW Ohio Port Authorities Project Development for the Region Collaborative Network with State and Local Economic Development Resources Conduit for Business Attraction & Retention
Butler County Port AuthorityProjectsProjects 2005 to 2009 Projects Quaker Chemical Middletown Regional Hospital Deconstruction YMCA Electric Lock Switch – Rail Intermodal Rail Study
BCPA Financing ActivityButler Project and Program ActivityCounty Port 18 $35,000,000 inAuthority 17.5 Contracts and ProjectIncreased DevelopmentFinancingActivity 8.3 1 2006 2007 2008 2009
Port Authority Mission Port Authority Financing FeaturesMission Statement:Use powers toenhance, support, facilitate andcoordinate the economic health ofButler County while validatingnew opportunities within ourconfines as prescribed in the OhioRevised Code.
Projects for Financing For Profits Private Sector Institution Not for s and Profits Healthcar Port e Authority Financing
Benefits of PA Financing and ProgramsBenefits New jobs New payroll dollars New sales tax revenues New health care and educational resources for the community New construction job opportunities
Quaker ChemicalProject Groundbreaking for $10,000,000 Industrial Revenue Bond
Case study – Rail freight initiative Electric lock switch BCPA Collaborative Process Rail Freight Three companies in near Fairfield and Hamilton, Ohio needed improved rail freight capacity. The Butler County Port Authority formed a partnership with the Ohio Rail Development Commission, CSX, Cinergy and the Transportation Improvement District to implement a switching system. A grant from Cinergy. A loan from the TID provided the impetus to install electronic switches to replace the antiquated manual switches. The BCPA is reimbursed with rail car rebates from CSX.
Summary Ohio Port Authorities can provide sales tax exemption, property management and process benefits for a project Southwest Ohio Port Authorities are available in their jurisdictions and region wide for partnerships and collaborations on projects and programs