REVENUE BOND FUND
Port Authorities have become an increasingly important part of the economic development landscape in Ohio. Over the past fifteen years port authorities have aided companies, not-for-profits, hospitals, developers and local government in making more than $2.5 billion in capital investments in Ohio.
Cooperative agreements allow port authorities to partner with other governmental entities, including other ports for development transactions. Port Authorities partner to provide financing for customers.
Medina County Port Authority has such a Cooperative Agreement with Summit County Port Authority which enables the Summit Port Authority Bond Fund Program to fund projects in Medina County.
Program Benefits Include:
- Fixed Interest Rate (Up to 30 years)
- Construction and Permanent Financing
- 90% to 100% Financing
- No sales tax on construction materials
- Close within 60 to 90 days
TAX-EXEMPT BONDS
- Industrial Projects
- Non-Profit (501 C 3)
- Exempt Facilities
- Governmental
TAXABLE BONDS
- Commercial Projects
A $5 million cash reserve is necessary to establish a Bond Fund Program. The agreement with the Summit Port Authority enables Medina County Port Authority to provide this type of financing currently.The Medina County Economic Development Corporation serves as the Administrator for the Medina County Port Authority, contact Bethany Dentler, Executive Director at 330-722-9215 or bdentler@medinacounty.org to discuss your project.