Public-Private Owner/Developer/Financier Good News

H.B. 110 – Ohio’s recently enacted budget bill – has changed the definition of “Public Infrastructure Improvement” in R.C, 5709.40(A) to add language which will now permit off-street parking facilities to be financed with PILOTs, including those off-street parking facilities in which all or a portion of the parking spaces are reserved, i.e. non-public, when such reserved use is determined to be necessary for economic development purposes.

H.B. 110 also enacts new R.C. 5713.083 which require owners of exempt property
Continue Reading H.B. 110 (Budget) Bill Highlights: New Tax Increment Financing (TIF) Law Changes

In addition to the Brownfield Remediation Grant Program, H.B. 110 also creates within Ohio Department of Development (ODOD) a new grant program (new R.C. 122.6512) that covers up to 75% of a project’s total cost to demolish commercial and residential buildings and revitalization of surrounding non-brownfield properties. The new grant program is called the Building Demolition and Site Revitalization Program. H.B. 110 provides that the Ohio Department of Development will determine eligibility for the new program via administrative rule. The
Continue Reading H.B. 110 (Budget) Bill Highlights: New Grant Program to Help Building Demolition and Site Revitalization

Recently enacted H.B. 110, the State of Ohio’s Budget Bill, has created a new grant program (O.R.C. 122.6511) to cover up to 75% of a project’s total cost to help remediate brownfields. The program, called the Brownfield Remediation Program, resides within newly renamed Ohio Department of Development (ODOD). H.B. 110 provides that the Director of Ohio Department of Development will determine project eligibility, project sponsor eligibility and administration for the new program pursuant to administrative rule. The program must
Continue Reading H.B. 110 (Budget) Bill Highlights: New Grant Program to Help to Remediate Brownfields

H.B. 110 has made certain changes to Ohio’s Joint Economic Development District (JEDD) law pursuant to newly enacted R.C. 715.72(A)(10), (11); and (J)(2). The new provisions relate both to the creation of a new JEDD or amending an existing JEDD Agreement. It requires new notices, new JEDD Agreement terms, and exclusions of land from JEDDs if any part of the JEDD is located either within one-half of one mile of a municipal corporation that is not a party to
Continue Reading H.B. 110 (Budget Bill) Highlights: New Changes Affect Ability to Add and Exclude Land to and from JEDDs

Newly enacted R.C. 122.17(A)(11) and (D)(2)(c) creates a new “megaproject” designation in the state’s Job Creation Tax Credit program. The new provisions allow a tax credit of up to 30 years for very large projects, defined as at least $1B in capital investment or $75million/year in new payroll and average wages at least 300% of the federal minimum wage. The new provisions also allow JCTC recipients to include work-from-home employees in their job creation calculations (new R.C. 122.17(T). In addition,
Continue Reading H.B. 110 (Budget Bill) Highlights: Changes in Law Pertaining to “Mega Projects.”

Rather than using the State of Ohio’s Chapter 166 Loan Program, the Lawrence Economic Development Corporation (LEDC) recently found that the newly refunded State of Ohio Rural Industrial Park Loan (RIPL) Program was a better fit to finance the construction of a 30,000 sf speculative building in Lawrence County’s South Point Industrial Park and a 19,135 sq. ft. facility in Ironton that will attract new businesses and accommodate existing business expansion in Lawrence County.

By way of background, the State’s newly refunded Rural Industrial Park Loan Program (RIPL) promotes economic development by providing low-interest direct loans to assist counties, municipalities, townships, non-profit organizations, port authorities, community improvement corporations, and private developers in financing the development and improvement of industrial parks and related off-site public infrastructure improvements.

Continue Reading Ohio Rural Development Loan Program Successfully Finances Two New Spec Industrial Buildings in Lawrence County

A collaborative economic development team of the Medina Economic Development Corporation, the Ohio Development Services Agency, and Team NEO have worked with Superior Roll Forming, a Wesler Profile company, to help the company make Medina County’s largest capital investment by a manufacturer since the start of the pandemic. Superior Roll Forming is a supplier for the automotive, aerospace, construction, and solar industries. The Ohio Tax Credit Authority approved the project for tax credit assistance on April 26. The company is
Continue Reading Superior Roll Forming to expand production operations, plans to add 150 new jobs

Progressive Insurance has announced the creation of an 8.4-acre solar panel array, which will include over 4,000 panels. The company plans to have the new system up and running at its Mayfield Village campus this summer (construction began on March 29). The completed project will help reduce Progressive’s carbon emissions by 4,000 metric tons per year.  Progressive contracted with three local companies – Mars Electric, YellowLite Inc. and Preformed Line Products Solar for the installation, design and construction of the
Continue Reading Progressive Insurance installs 1.8 Megawatt solar panel array

Aqua Ohio announced ambitious construction plans replace old utilities. The projected cost of the projects has been calculated at $70 million. In Marion, Aqua Ohio will be retiring and rerouting a water main line built more than 120 years ago.

Read more in the Marion Star here.
Continue Reading Aqua Ohio begins construction on water main on Church Street