Middletown and butler county port authority economic development strategy 2013 2020 future a
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Middletown and butler county port authority economic development strategy 2013 2020 future a

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Middletown and butler county port authority economic development strategy 2013 2020 future a Middletown and butler county port authority economic development strategy 2013 2020 future a Presentation Transcript

  • Butler County Port Authority Innovation & Ideas for Today and Tomorrow
  • Port Authorities in Ohio Port Authority Locations 4582 Ohio Revised Code Ohio Council of Port Authorities •Partnerships – multi-jurisdictional •Offers long term financing •Fixed rate and lower interest rates •Sales tax exemption – Example on a $5M project at 6% sales tax = $300K •Profit and non-profit organizations •Conduit for balance sheet and operating leases – possible lease cost and tax savings •Conduit for Grants – Example MRH Deconstruction http://ohioportauthorities.com/
  • Vision Statement  Mission Statement: Use powers to enhance, support, facilitate and coordinate the economic health of Butler County while validating new opportunities within our confines as prescribed in the Ohio Revised Code.
  • Butler County Port Authority Projects from 2005 to 2013  Quaker Chemical $10M – 40 jobs*  Middletown Regional Hospital Deconstruction $9.1M – 2,600 jobs retained and created*  YMCA $17.7M – 908 jobs retained*  Electric Lock Switch – 200 jobs retained $100K*  Intermodal Rail Study *  Intelligrated $8.6M – 267 jobs created  Application for Western States in 2012 and Public Hearing in July  Maple Knolls Communities, Inc - $75M  Local Government Innovation Grant - $100K in 2012 * Projects started in 2007
  • Middletown Regional Hospital Deconstruction
  • Middletown & BCPA Quaker Chemical Expansion 2008-2010 Board Meeting at the Chamber in October 2010
  • Programs & Outreach 2009-2013 Volunteer  Ohio Brownfield Conference 2009 Seminar on Port Authority Capabilities  Stimulus Bond Seminar 2009  University of Dayton Riverfront Conference  Art Means Business Program for Leadership Hamilton 2010  Local Government Innovation Fund Integrated Development Budget The Board Members are volunteers and other people volunteer as well..
  • Economic Development Collaborative Value of BCPA  $125,000,000 in projects  Over 3,000 jobs retained or created  Local Government Innovation Fund Grant $100,000 Butler County Land Reutilization Corporation formed - Recently discussed Phase 2 Grant that will require a fiscal agent  Three projects starting in 2007/2008 in Middletown with a $30M investment and over 3,000 jobs retained
  • Revenues and Fees 0 0 0 0 0 0 0 0 $225,000 $10,000 $10,000 $1,000 $87,500 $40,100 $50,000 $28,5910 50,000 100,000 150,000 200,000 250,000 Summary of Operating Dollars from inception through April 2009 50% 2% 2% 0% 19% 9% 11% 6% 0% 10% 20% 30% 40% 50% 60% Percentage of Operating Dollars received Note: Butler County invested $150K in the BCPA in 2009 BC 25-30%
  • How did we get here? History… The Port Authority was created but not funded by an enabling legislation by the Commissioners in 2004 on July 26th. Brief history of the port authority:  Port Authority separates from TID in 2007  Port Authority has three major projects of over $30M all located in Middletown with fees of nearly $200,000 in 2007 and 2008 - - Factor for consideration: If the BCPA was not formed in 2004 those projects could have been done by ports in other counties  Growth and the need to manage projects results in the Exec. Director hired in 2008
  • Advantages and Benefits  Long-term debt financing utilizing bonds  Off Balance sheet capital or ground leases  Cost reduction incentives on project development  Third Party Grant management on a regional or statewide basis
  • Future Partnerships and Collaboration with the City of Middletown  Workforce Development with Ohio Development Services and Cincinnati State  Projects at the Airport, Downtown, Industrial and Commercial Parks, Malls etc.  Technology Infrastructure Projects