Ohio law allows Port Authorities to issue revenue bonds for economic development purposes. The Heath-Newark-Licking County
Port Authority is able and willing to be a partner in such financings having signed over $657 million in financings since it's first one in 2002. Contact the Port Authority to initiate discussions.
The Port Authority can serve as the conduit for financing of certain private, job-creating projects. The advantages of such financings are sales tax exemption on building materials and a slightly lower interest rate. Under certain circumstances, the debt may even be eligible for tax exempt status. The Port Authority seeks to monetize a portion of the savings for infrastructure investments.
Up to $10 million a year in Port Authority capacity for bank-qualified debt is available for non-profit capital projects. The debt, usually held by a single lending institution, can be at a negotiated rate and terms while taking advantage of tax exempt status. Recent state law changes make this financing vehicle even more attractive for non-profits.
The Port Authority is uniquely positioned to issue debt for multi-jurisdictional projects. When two or more governmental entities are providing a revenue stream to a project or, in the case of pooled bonds, providing multiple sources of revenue, a port authority is often seen as a logical issuer.
Below, for review, are profiles of recent taxable and tax-exempt bond issuances by the Port Authority.
Some Past Bond Financings:
2020 $76MM TPA 2