The Port Authority is assisting McClurg Senior Care, LLC (MSC) construct a 51,100 sq. ft. skilled nursing facility that includes equipping and furnishing the facility, known as Briarfield Place. The Port Authority entered into a ground lease with McClurg Road Facility Realty, LLC to secure land necessary for the project, let a capital (facility) lease to MSC to construct the project and operate such facility, issued a $13,000,000 Development Revenue Bond, and passed through those proceeds to MSC for the project.
The Port Authority is assisting TJX construct a 1,200,000 sq. ft. logistics facility that includes equipping and furnishing the facility, known as HomeGoods Warehouse. The Port Authority entered into a ground lease with TJX to secure land necessary for the project and let a capital (facility) lease to HomeGoods Inc. to construct and operate such facility.
The Port Authority assisted Campus Lofts, LLC construct a 71-unit, 190-bed student housing facility located at Youngstown State University that included equipping and furnishing of the facility. The Port Authority entered into a ground lease with Campus Lofts to secure land necessary for the project, let a capital (facility) lease to Campus Lofts to construct the project and operate such facility, issued a $9,954,354 Development Revenue Bond, and passed through the proceeds to Campus Lofts for the project.
The Port Authority is assisting General Motors (GM) construct a 3,100,000 sq. ft. lithium-ion battery manufacturing facility that includes equipping and furnishing the facility, known as the Ultium Cells Battery Plant. The Port Authority entered into a ground lease with GM to secure land necessary for the project and let a capital (facility) lease to Ultium Cells, LLC to construct and operate such facility.
The Port Authority is assisting Washington Prime Group with its Southern Park Mall project that comprises of the demolition, reconstruction, improvement, and repurposing of sections of the Southern Park Mall into exterior and interior facing retail, dining, entertainment, and a new public green space. The Port Authority entered into a ground lease with Washington Prime Group to secure land necessary for the project and let a capital (facility) lease to Southern Park Mall, LLC to make improvements and operate such facility.
The Port Authority assisted Trailstar Realty, LLC construct an approximate 66,300 sq. ft. manufacturing warehouse facility that included equipping and furnishing the facility. The Port Authority entered into a ground lease with Trailstar to secure land necessary for the project, let a capital lease to Trailstar to construct the project and operate such facility, issued a $4,720,000 Development Lease Revenue Bond, and passed through those proceeds to Trailstar for the project.
The Port Authority assisted EXAL Corporation expand its operations in the Mahoning Valley by providing financial resources to EXAL for the construction of a 178,000 sq. ft. manufacturing facility and equipping and furnishing the same. The Port Authority obtained $5,000,000 in State Economic Development Revenue Bonds through the Ohio Enterprise Bond Fund Program, obtained a $2,000,000 Loan from the Ohio Department of Development’s 166 Direct Loan Program, and obtained $3,000,000 in Economic Development Revenue Bonds through the Summit County Bond Fund Program, and passed through those proceeds to EXAL for the project.
The Port Authority assisted Timken Latrobe Steel Distribution (Timken) retain and expand its operations in the Mahoning Valley by providing financial resources to Timken to acquire a site, construct a building, and equip and furnish the same. The Port Authority acquired the property for the project, let a facility lease to Timken for its operation of such facilities, obtained a $150,000 Development Grant from the Ohio Department of Development (ODOD), obtained $6,185,000 in State Economic Development Revenue Bonds through the Ohio Enterprise Bond Fund Program, obtained a $3,000,000 Loan from ODOD’s 166 Direct Loan Program, and passed through the proceeds to Timken Latrobe for the project.
The Port Authority assisted Youngstown Stambaugh Holdings, LLC (YSH) improve and convert the former Stambaugh Building into a hotel facility located in downtown Youngstown. Rehabilitation on the building includes remodeling, equipping, and furnishing the facility. The Port Authority entered into a ground lease and a capital lease with YSH to secure facilities necessary for the project, let a capital lease to YSH to construct the project and operate such facility, issued a $12,000,000 Development Revenue Bond, and passed through the proceeds to YSH for the project.
This project is a watershed for the City of Youngstown: the first hotel in over 20 years. It also created a new face for the downtown with meeting rooms, fine dining, and luxury overnight accommodations.
Located at the Youngstown-Warren Regional Airport (YNG), the Pittsburgh Institute of Aeronautics (PIA) is ranked by Forbes as the No. 1 Top Two-Year Trade School in 2018. PIA has produced top notch aircraft mechanics and avionics technicians to enter the workforce in aviation maintenance, electronics, and other related fields since 1929. The Port Authority assisted PIA to construct an approximate 8,500 sq. ft. addition to its existing aviation technician training facility at YNG needed to provide additional offices and classrooms. The Port Authority issued a tax-exempt $1,521,000 Development Revenue Bond and passed through the proceeds to PIA for the project.