port authority financing for the future one
DESCRIPTION
Finance a=TRANSCRIPT
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SOUTHWEST OHIO PORT AUTHORITY REGIONAL PARTNERSHIP
Collaborations and Partnerships
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Port Authorities in Ohio
All types of projects includingarenas, convention centers, museums, hospitals, clinics, office buildings, manufacturing facilities etc.
Ohio Revised Code 4582
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SW
OHIO
Investment in the Region makes sense: Port Authorities for financing and fundingEducational Institutions like Miami University for training and resource developmentEconomic Development professionals at the local level to support and assist project development
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Project Development for the Region Collaborative Network with State and
Local Economic Development Resources
Conduit for Business Attraction & Retention
SW Ohio Port Authorities
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Butler County Port Authority Projects
Projects 2005 to 2009 Projects
Quaker Chemical Middletown Regional
Hospital Deconstruction
YMCA Electric Lock Switch –
Rail Intermodal Rail Study
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BCPA Financing Activity
Butler County Port Authority Increased Financing Activity
2006 2007 2008 2009
1
18 17.5
8.3
Project and Program Activity
$35,000,000 inContracts and ProjectDevelopment
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Port Authority Mission
Mission Statement:
Use powers to enhance, support, facilitate and coordinate the economic health of Butler County while validating new opportunities within our confines as prescribed in the Ohio Revised Code.
Partnerships – multi-jurisdictional
Offers long term financing with Bonds
Fixed rate and lower interest rates
Sales tax exemption Profit and non-profit
organizations Conduit for balance sheet and
operating leases Conduit for Grants – Example MRH
Deconstruction
Port Authority Financing Features
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Projects for Financing
Not for Profits
For Profits Private Sector
Institutions and
HealthcarePort
Authority Financing
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Benefits of PA Financing and Programs
New jobsNew payroll dollarsNew sales tax revenuesNew health care and
educational resources for the community
New construction job opportunities
Benefits
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Project Groundbreaking for $10,000,000 Industrial Revenue Bond
Quaker Chemical
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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.
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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