Services

Please download and fill out the .pdf application form electronically, then print, sign, scan, and email to sjackson@westernreserveport.com.

http://neodfa.org/wp-content/uploads/2016/02/ProjectApp-fillable.pdf

Or print the form, then fill out manually, sign, and mail to:

Western Reserve Port Authority
100 E Federal Street, Suite 422
Youngstown, OH 44503

BROWNFIELDS

Along the Mahoning River stand dozens of unusable, contaminated commercial sites.  Enterprises are hindered from redeveloping due to the high cost of clean-up.

The Western Reserve Port Authority  is eligible for receiving federal grants that can help eliminate astronomical costs while making these sites more valuable to business investments. The Environmental Protection Agency offers a Brownfield Grant that funds the assessment and clean-up of hazardous materials found at brownfield sites.

When brownfield sites are utilized, the surrounding community prospers from increases in property values, a safer environment and more development opportunities.

Services:

• Phase 1 and 2 assessments
• Site acquisition and clean-up
• Site preparation to suit developer

Featured Project: Auto Park-It

• Phase 1 and 2 assessments were conducted prior to property acquisition
• Northeast Ohio Development and Finance Authority partnered with Jobs Ohio to manage clean-up and site development

MAHONING RIVER CORRIDOR INITIATIVE

The Mahoning River Corridor Initiative was created to promote economic development, recreation and conservation on the sites along the banks of the Mahoning River. Once the heart and soul of the Mahoning Valley, the Mahoning River Corridor is now challenged by abandoned industry and underdeveloped infrastructure.

The Western Reserve Port Authority  convenes planners and development professionals to concentrate on improving the lands along the Mahoning River to promote new life in the Valley.

MRCI Project List

Grants and funding

• Over 1200 acres inventoried, mapped and characterized
• Secured $12.6 million for environmental planning, assessment and remediation work
• 230 acres have been or are being remediated
• Secured $22.94 million for infrastructure projects
• Secured $3.4 million for environmental enhancement projects

Opportunity sites

The MRCI Feasibility study includes a site map and profile for all sites 16 sites the MRCI is working with.

Regional Rail Strategy

An Immediate Needs Assessment of railroad infrastructure in the Youngstown-Warren Mahoning Valley region was commissioned by the Western Reserve Port Authority.

This study has identified five railroad infrastructure projects critical to growth and development in the Mahoning Valley. Click here to download the Immediate Needs Assessment.

MAHONING RIVER CORRIDOR MAYORS’ ASSOCIATION

The Mayors’ Association is made up of leaders from nine cities along the Mahoning River, who collaborate on the strategic redevelopment of the Mahoning River Corridor. Mayors and City Managers meet quarterly to advocate for public and private investment in the local community.

Mayor and City profiles

• City of Campbell – Mayor Nick Phillips – http://www.campbellohio.gov/
• City of Girard – Mayor James Melfi – http://www.cityofgirard.com/
• Village of Lowellville – Mayor James Iudiciani, Sr. – http://www.villageoflowellville.com/
• Village of McDonald – Mayor Glen Puckett – http://www.mcdonaldvillage.com/
• City of Newton Falls – Mayor Kenneth Kline – http://ci.newtonfalls.oh.us/
• City of Niles – Mayor Steve Mientkiewicz – http://www.thecityofniles.com/index.php/en/
• City of Struthers – Mayor Cat Cercone Miller – http://cityofstruthers.com/
• City of Warren – Mayor Doug Franklin – http://www.warren.org/
• City of Youngstown – Mayor Jamael Tito Brown – http://www.youngstownohio.gov/

MAHONING VALLEY PARTNERSHIP

The Mahoning Valley Partnership brings together economic development resources among all the regions’ agencies to optimize development opportunities. For detailed information about the MVP, download this Executive Summary.

The Mahoning Valley is in an ideal position to take advantage of opportunities it has never had before. While the Valley is long-recognized as a leader in advanced materials and manufacturing from its roots in steelmaking and supplying industries, burgeoning technologies such as additive manufacturing and advanced materials have allowed for a significant transformation of the regional economy.

Adaptation is needed in order to survive in an incredibly competitive and globalized economy. The most successful areas of this century are those that position themselves around regional hubs that play on key competitive strengths, whether natural assets or industries. By aligning resources in the key areas of community and economic development, the Mahoning Valley will be able to position itself as a viable candidate for increased prosperity. The Mahoning Valley continues to lose population and experiences stagnant per capita income growth despite collaboration on many fronts that has failed to create sustainable coordination of initiatives around shared values for all stakeholders.

Click here to download the full MVP Plan.

CAPITAL LEASE

The Western Reserve Port Authority  can provide bond financing of large construction projects with a Capital Lease Option that enables borrowers to take advantage of savings on development costs.

Benefits: 

• Exemption of the sales tax on construction materials
• Lease payments will fully amortize debt
• Buyout option allows company to buy asset for $1 at the end of lease
• Assets and liabilities are placed on the company’s balance sheet
• No Prevailing Wage Requirement
• Reduces construction costs and improves Loan-to-Value

BONDS

The Western Reserve Port Authority can issue bonds for the purpose of making proceeds available to an entity in furtherance of a public purpose. This includes tax exempt options like Industrial Revenue Bonds, Hospital Revenue Bonds, Non-Profit Bonds, Housing Bonds, and other Private Activity Bonds.

Benefits: 

• Interest rates for the bonds sold in capital markets are based upon the financial strength of the company, developing agency, and credit enhancements provided by the Port Authority, thereby providing significant cost savings to the developer.
• Debt capacity may be increased due to this as well.

PROPERTY ASSESSMENT CLEAN ENERGY (PACE)

The PACE Program finances investments in energy-related improvements in new and existing real estate property, thereby reducing the operating costs through energy cost savings. Eligible improvements include heating and cooling systems, roof, insulation, windows, and solar and geothermal projects. The PACE bonds are paid by the property owner with special assessments levied on the project.

Benefits: 

• Little to no up-front investment
• Reduced development costs
• Reduced operating costs
• Improved property value
• Long-term subordinate debt financing
• Immediate savings benefit

Featured Project: Southern Park Mall

• The Southern Park Mall in Boardman worked with the Port Authority to make improvements to the facility that will increase energy efficiency with low-cost, long-term financing. PACE financing was used to replace the roof over a common area, upgrade the interior lighting fixtures with more energy-efficient LED units, and other energy related improvements. The Port Authority created an Ohio Energy Special Improvement District (ESID) in Boardman Township for the project and issued a $2,338,000 PACE Revenue Bond.

TAX INCREMENTAL FINANCING (TIF)

Tax Incremental Financing (TIF) helps developers, governmental entities and other organizations finance improvements such as utility lines, streets, curbs, and parking facilities.

Benefits:

• Infrastructure improvements drive long-term economic development
• Possibility of 100% financing
• Lower cost of construction
• Fixed interest rate, tax-exempt financing
• Terms of up to 30 years

Featured Project: The Inn at Poland Way

The ten-year tax increment estimates revenues of approximately $718,320. Those funds completed the following projects on behalf of the development and Poland Township.

• 600-foot public access road
• Sanitary sewer lines on State Route 224
• Resurfacing of Clingan Road, Struthers Road, and intersections
• Sanitary sewer improvements in the area of Frontier and Circle Drive (match)
• Roadway improvements
• Additional drop-turn lane added in order to improve public safety and access to the development

CONDUIT REVENUE BONDS

The Western Reserve Port Authority  can serve as the Issuer for the purpose of making proceeds available to an entity in furtherance of a public purpose by way of Industrial Revenue Bonds, Hospital Revenue Bonds, Non-Profit Bonds and Housing Bonds.

Benefits:

• Financial strength based upon credit of the company or non-profit organization
• Rated or non-rated bonds sold in capital markets or privately placed with banks
• Capacity to issue bank-qualified, tax-exempt debt

ENTERPRiSE zone

Enterprise Zone incentives help provide a competitive advantage for Ohio sites. Tax incentives help offset the high costs of business start-up activities. Businesses can reinvest in their facilities and equipment, helping them grow and remain competitive in the long term. Tax incentives provide a basis for a long-term relationship between the community and business.

Enterprise Zones in Mahoning County:

• Zone 180: The City of Youngstown
• Zone 181 The City of Sebring
• Zone 182: The cities of Campbell, and Struthers, the Village of Lowellville, and Coitsville Township.
• Zone 269: Austintown Township

Available incentives/abatements:

• Up to 75% exemption in the city of Youngstown. Abatements in excess of 75% require approval by the Youngstown Board of Education.
• Up to 60% exemption in other communities. Abatements in excess of 60% require approval by the affected school district.
• The maximum abatement term is 10 years. Abatements in excess of 10 years require approval of the affected school district.

Foreign-trade zone 

Foreign-Trade Zones (FTZ) are secure areas under U.S. Customs and Border Protection (CBP) supervision that are generally considered outside CBP territory upon activation. Located in or near CBP ports of entry, they are the United States’ version of what are known internationally as free-trade zones. There are three general purpose Foreign-Trade Zones in Mahoning and Trumbull Counties.

Advantages:

• Duty Deferral: delay payments of duties until the inventory leaves the zone.
• Duty Reduction: pay the lower of the component or finished product duty rate.
• Duty Exemption: certain types of merchandise may be exempt from duties and/or excise taxed when admitted to an FTZ.
• Duty Elimination: eliminate duty on products that are re-exported, rejected, scrapped or destroyed.
• Direct Delivery: bypass congestion at sea ports by applying for authority to receive product, break seals and clear customs within the FTZ facility.
• Weekly Entry: reduce merchandise processing fees by combining shipments on one entry filed weekly.
• No Import Quotas: inventory stored in an FTZ is not subject to import quotas.