COVID-19 has spawned concern for the health of communities and anxiety for the future of local businesses. Amidst the uncertainty, area organizations look to economic development leaders.
PACE (Property Assessed Clean Energy) Loan Financing for Social Services Agency Completed in Conneaut
When the Conneaut Human Resources Council (Conneaut HRC) learned the facility would need a new roof, it applied to NOPEC (Northeast Ohio Public Energy Council) for a PACE loan to finance it. The new roof qualified as an energy efficiency improvement, one of the requirements for this financing. Conneaut HRC will save approximately $1,015 annually on its energy costs after installing the new roof with better insulation. The $115,000 financing is structured with a 3.5% fixed-interest rate and 15-year term. The project financing also included a $45,000 Community Development Block Grant provided by Ashtabula County.
(Wilmington, Ohio) The Clinton County Port Authority is partnering with Ohio’s Small Business Development Center (SBDC) program to bring advisor Sangmi Kim to Clinton County weekly through the end of the year.
Ohio Supreme Court upholds “expedited tax foreclosures,” allowing county land banks to acquire unoccupied, tax delinquent properties free of charge
In May 2020, the Ohio Supreme Court issued an opinion that carries importance for county elected officials and community and economic developers. Rejecting an activist effort to invalidate “expedited tax foreclosures,” the Court upheld the practice in Ohio by which county Boards of Revision (BOR) may directly transfer unoccupied, tax delinquent properties to county land banks.
JobsOhio is the state of Ohio’s private sector economic development corporation. JobsOhio announced a substantial state economic development response to COVID 19