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The Columbus-Franklin County Finance Authority has provided financing for the following transactions in Central Ohio:
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| The Finance Authority was awarded a $2.3 million grant from the Ohio Department of Development’s Clean Ohio Revitalization Fund in conjunction with its project partner, Klingbeil Capital Management LLC (KCM). The Clean Ohio funds will be used to cover the cost of environmental remediation and demolition so that KCM can move forward with redeveloping a blighted and vacant industrial property...read more. |
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Together the Ohio Department of Development (ODOD) and the Finance Authority entered into a purchase/leaseback incentive package for STAR Dynamics Corporation. The ODOD provided a $3 million Research and Development Loan to the Finance Authority for the purchase of a revolutionary technology XSTAR radar system developed by STAR Dynamics. The Finance Authority is leasing the radar equipment back to STAR Dynamics over a seven-year term, with STAR purchasing the equipment at the end of the lease term for $1. The company will create 20 new full-time jobs within three years and retain 81 jobs....read more.
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| The Columbus-Franklin County Finance Authority partnered with the Ohio Department of Development (ODOD) with a purchase/lease-back incentive package that provides Kern, Inc. of Grove City with a $2 million Innovation Ohio Fund Loan. The ODOD provided a $2 million loan to the Finance Authority for the purchase of intellectual property in the form of a patent. The Finance Authority, in turn, leases the intellectual property that is valued at $4 million back to Kern. At the end of the 6-year lease, Kern will purchase the intellectual property for $1. Kern will create 55 new full-time jobs within three years and retain 20 jobs...read more. |
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| The Columbus-Franklin County Finance Authority partnered with the Huntington Bank in refinancing $4.7 million in existing debt for the Heinzerling Foundation, closing on the financing on December 30, 2010. The project allowed Heinzerling to take advantage of the tax benefits available through the Federal Stimulus package that expired at year end in 2010...read more. |
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The Columbus College of Art and Design (CCAD) will refinance $21.4 million of existing debt on a group of buildings clustered along Cleveland Avenue. The project is being refinanced through the Finance Authority and the Huntington Bank. CCAD’s financing will benefit from tax advantages available through the Federal Stimulus package that is set to expire on
December 31, 2010...read more. |
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The Edwards Companies have secured infrastructure financing for the first phase of its One Neighborhood downtown residential development through the Columbus-Franklin County Finance Authority. The Finance Authority has issued $2.45 million in tax-exempt bonds to support the project through the Central Ohio Bond Fund. The financing will be used to fund landscaping, utility work and other public infrastructure improvements. The infrastructure financing is essential for the project’s continued development which will be comprised of 300 residential units on nine-city blocks at build out....read more.
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A growing Columbus technology company will benefit from a $2 million sale-leaseback financing structure with the Ohio Department of Development and the Finance Authority. The state tapped its Research and Development Loan program to encourage entrotech to accelerate the development of a new paint replacemnt film...read more. |
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The Finance Authority has closed on a $6.7 million financing with the State of Ohio and Pizzuti to finance $10.9 million in public infrastructure improvements at Rickenbacker. The improvements in the City of Columbus surround a one million square foot warehouse developed by Pizzuti and occupied by Whirlpool. Whirlpool created 200 jobs and retained 70 jobs as a result of the project...read more.
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The Columbus-Franklin County Finance Authority issued $2.5 million in Recovery Zone Facility Bonds on behalf of Wasserstrom's consolidation project related to its restaurant equipment business. Wasserstrom will consolidate Columbus distribution facilities to a new site in Northeast Columbus...read more.
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The Columbus-Franklin County Finance Authority issued $3.45 million in bonds to refinance existing debt at BalletMet's facility on Mount Vernon Avenue in the City of Columbus. BalletMet and the Finance Authority are financing the project in partnership with Huntington National Bank which purchased the bonds...read more.
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The Columbus-Franklin County Finance Authority issued $159 million in bonds for the Ohio Capital Fund, a fund of funds overseen by the State’s Venture Capital Authority. The taxable research and development revenue bonds will be used to refinance existing debt and raise additional funds to support venture capital investments in Ohio. The Ohio Capital Fund invests in private-capital venture funds to raise money for local technology firms. To read more cleck here for press release. |
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| The Columbus-Franklin County Finance Authority issued $2.2 million in bond financing for the 3MX/Nationwide Children’s Hospital project in the City of Columbus. The 3MX/Children’s project was the first project in Central Ohio to take advantage of Recovery Zone Facility Bond financing available through the American Reinvestment and Recovery Act...click here for more information. |
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The Columbus-Franklin County Finance Authoriy issued $12 million in tax-exempt bonds to support Nationwide Realty Investors infrastructure financing for the first phase of the Grandview Yard development project. The infrastructure financing is essential for the proposed 90-acre mixed-use project located in the City of Grandview Heights that will create 376 full-time jobs. To read more click here for press release.
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| The Columbus-Franklin County Finance Authority assisted Cardinal Health with a transaction to make its South Campus site shovel-ready. In partnership with the Ohio Department of Development and the City of Dublin, the Finance Authority purchased the site for Cardinal and leased it back to them for 10-years. The State of Ohio provided the up-front capital and infrastructure funding. The City of Dublin will provide the remaining funding to ensure the infrastructure will be extended. For more information click here. |
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The Columbus-Franklin County Finance Authority assisted Dynalab with tax-exempt lease financing for its $3.5 million project to lease equipment from National City Leasing adding a second line to its facility for the manufacture of circuit boards for electric meters. Dynalab will move 73 jobs from a plant in Mexico to its Reynoldsburg headquarters that has a workforce of 240. For a full press release click here.
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The Columbus-Franklin County Finance Authority issued tax-exempt bonds to assist the Franklin Park Conservatory with its $7.1 million investment to finance a special events wing, improvements to the Palm House, and an expansion of the Show House leading to the Palm House, providing access to rooftop gardens on the two new wings. This investment will lead to increasing the number of events the Conservatory can service at one time, new needed amenities for guests, additional rental opportunities and space for exhibitions. The tax-exempt bond is secured by a letter of credit from Fifth Third Bank.
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The Columbus-Franklin County Finance Authority closed on tax-exempt financing to assist Dancor, a small printer on the west side of Columbus, purchase a digital printing press for $1.2 million. The Columbus-Franklin County Finance Authority helped with lower cost financing to drive down costs and free up cash for other operational needs. The tax-exempt financing was made in conjunction with National City Bank. |
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The Columbus-Franklin County Finance Authority issued tax-exempt bonds to support neighborhood revitalization through redirected property taxes in the Harrison West neighborhood on the near north side of the City of Columbus. The project will finance $3.1 million to fund the creation of a 4-acre park along the Olentangy River on the old AC Humko site (a cleaned up brownfield). The AC Humko site has been revitalized with 286 new homes (including duplexes and condominiums) ranging in price from $157,000-$525,000. For the full press release click here. |
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