FINANCE
Under state law, port authorities are granted a variety of financing tools to aide economic development projects.
Potentia Financing
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 $1.04 billion in total financings. Contact the Port Authority to initiate discussions.
Conduit Financing
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.
Over $12.4 million has been converted to local infrastructure investment through this initiative.
Workforce Housing
Under a strategic plan update in 2022 and consistent with the FRAMEWORK initiative, the Port Authority can offer incentive financing for eligible attainable, workforce housing projects. The incentive is available for private projects providing workforce housing in Licking County. See One-Pager.
Non-Profits
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. State law changes make this financing vehicle even more attractive for non-profits.
Intergovernmental Projects
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.
Financing Fact Sheets
» Conduit Financing For Non-Profits and Intergovernmental Projects
Below, for review, are profiles of recent taxable and tax-exempt bond issuances by the Port Authority.
Some Past Bond Financings:
Linked Deposits
State law was changed in 2005 to allow port authorities to create linked deposit programs. The Port Authority became the first in the state to offer such a program by establishing a program June 14, 2005. Program details follow.
