Recent Transactions

In April 2019, the Treasurer’s Office assisted with the issuance of $5,225,000 in bonds on behalf of the Toledo-Lucas County Port Authority. State SIB Series 2019-2 partially financed certain public improvements to the Port Authority’s Seaport facilities located in Toledo, Ohio. Public improvements include replacing 6,000 LF of existing 8” waterline and 1,800 LF of 12” waterline and associated hydrants and service connections that were installed in the 1960’s which have exceeded its useful life. The proposed public improvements would also include the construction of two 48,000 square feet buildings located in the Port Authority’s Foreign Trade Zone (FTZ) to replace an existing 1960’s era, 60,000 SF, FTZ building that has exceeded its useful life and is deteriorated beyond repair. These multi-modal facilities are used to temporarily store products that arrive primarily by ship and are stored duty free until they are shipped out by truck or rail.

In March 2019, the Treasurer’s Office assisted with the issuance of $15,245,000 in bonds on behalf of the Port of Greater Cincinnati Development Authority. State SIB Series 2019-1 assisted in financing the acquisition and improvement of the 605 Plum Street Garage which is a 220,000 square feet facility with 5-levels, has 890 spaces and 7,800 of retail on the street level. The strategic purchase of this and other downtown garages by the Port Authority which are adjacent to and support the Cincinnati Convention Center by the Port Authority are vital to the continued success and long-term sustainability of the convention center and related business activity in the downtown area. The Port will also simultaneously purchase a second garage known as the 609 Elm Street garage which has 680 spaces and is also adjacent to the Convention Center.

In August 2018, the Treasurer’s Office assisted with the issuance of $15.7 million in bonds on behalf of the Akron-Canton Regional Airport Authority. State SIB Series 2018-1 financed improvements which include the replacement of five ground-level boarding gates with four second-level boarding gates, adding approximately 45,600 SF of new space and renovation of 10,000 SF of existing space, adding passenger boarding bridges, new restrooms, a business lounge, retail space and a children’s play area, all to meet customer demands.  The airport continues to be one of the top growing airports and this project is in addition to the $100M+ investments in the early 2000’s.

The bonds were issued for the purpose of providing moneys to fund a loan to finance street improvements, which include the acquisition, construction, equipping, and installation of road improvements, right-of-way purchases and
issuance costs associated with the widening of State Route 310 from Interstate 70 to U.S. 40, to pay capitalized interest during construction of the Project, to fund a debt service reserve fund, and to pay certain costs of issuance of the Bonds.

State SIB Series 2016-1 financed street improvements, including constructing an “S” curve on Hamilton Road, relocating a portion of State Route 161, reconfiguring the exit ramp at State Route 161, and improving the entry ramp.

The bonds were dated June 1, 2016, and construction on the financed projects was completed in November 2016.

State SIB Series 2014-1 financed construction of a 480-space public parking structure for Phase I of an economic development project in the downtown Dayton riverfront area. The project included construction of the parking structure, street upgrades and new pedestrian and riverfront landscaping.

The project was completed in December 2015.

The Banks Intermodal Transit Facility consists of a multi-level parking structure of approximately 1040 spaces linking the Cincinnati Riverfront Transit Center to the City of Cincinnati’s central business district. The bond financing is one piece of a larger project, which encompasses an area of more than 120 acres with an estimated $135 million investment.