Blanchard Valley Port Authority
Under Ohio law, the Port Authority can participate in activities that “enhance, foster, aid, provide, or promote transportation, economic development, housing, recreation, education, governmental operations, culture, or research.” The Port Authority can finance, own, or lease land, buildings, and equipment.
The Port Authority can help:
- Small and medium sized companies gain access to the national capital market to finance new construction, expanding current facilities, or acquiring and renovating existing buildings. Competitive interest rates for such projects are comparable to BBB+ investment grade rated companies. This long-term, fixed interest rate financing through the issuance of revenue bonds provides favorable terms when compared with traditional financing.
- Large sized companies through financing, operating, or synthetic leases which can help the company reduce its overall costs of occupancy. These types of financings require the Port Authority to own the building and lease it to the company. The land can be acquired and owned by the Port Authority or leased from the company. All materials used in construction or renovation of such a building are exempt from state sales taxes.
- Governments for projects such as office or service buildings, public parking garages, tax increment and special assessment projects.
- Non-profit organizations including elementary and high schools, colleges and universities, cultural organizations, and any other IRS-approved 501( c ) 3 entities.
The Port Authority is considered a “friendly borrower” and may receive favorable terms for difficult to accomplish structures or incentive-driven transactions. Combining all available funding sources such as the grants and loans, private market funds, and financial assistance from other Port Authorities as appropriate are drawn upon to provide the borrower with the lowest cost of financing. Involving the Port Authority could be a “tie-breaker” for any project of $1.5 million or higher.
Please Contact Greg Moon
for details about how the Blanchard Valley Port Authority can work for you in Wyandot County.