Jeff Epstein

This Workplan details the Port of Cleveland's initiative to deploy zero-emission equipment and renewable energy, serving as the next phase of its Electrification and Net Zero Emissions Master Plan. The plan focuses on acquiring electric forklifts, reach stackers, mobile harbor cranes, and tugboats, alongside installing charging infrastructure, shore power, and a rooftop solar and battery energy storage microgrid. The objective is to significantly reduce greenhouse gas and other emissions, improve air quality, and create a foundation for port decarbonization.

The Board of Directors is considering Resolution No. 2023-13 to authorize the issuance and sale of Taxable, Bond Fund Tax Increment Financing Bonds, Series 2023, for up to $5 million. These funds will support the renovation of the Bridgeworks Mixed-Use Development TIF Project. Additionally, they are reviewing Resolution No. 2023-14 to authorize the issuance and sale of Taxable Lease Revenue Bonds, Series 2023, for up to $80 million, also aimed at funding the renovation of the Bridgeworks Mixed-Use Development Project.

The meeting included discussions and presentations on multiple topics. One key focus was the Hilliard Apartments project, including a request to approve the issuance and sale of Taxable Lease Revenue Bonds for construction funding. A related discussion covered the Hilliard Apartments PACE (Property Assessed Clean Energy) project, with a request to approve the issuance and sale of Taxable Bond Fund PACE Revenue Bonds for energy efficiency and alternative energy improvements. The board reviewed the maritime update through June, including tonnage, cargoes, and cruise vessel statistics, as well as forecasts for steel and container demand.

The meeting addressed the Renaissance Hotel Renovation Project, focusing on Bond Fund Tax Increment Financing Bonds and Conduit Taxable Hotel Revenue Bonds. Discussions covered the developer, project details, financing structure, bond terms, security, and sources and uses of funds. The board was requested to approve resolutions for the issuance and sale of these bonds. Additionally, the meeting included updates on the Irishtown Bend project, covering the selection of Wade Trim for Owners Representative and Inspection Services, as well as Osborn Engineering as the Continuing Services Engineer of Record. The board was requested to approve agreements and change orders for these services.

The board meeting included discussions and updates on several key areas. A Hulett Update was presented, detailing a historical review and responsibilities related to its preservation and potential relocation. The Laurel School Refinancing Project was discussed, including the issuance of tax-exempt Adjustable Rate Educational Facilities Refunding Bonds. A Maritime Update covered tonnage reviews, general cargo, and industry news, along with proposed tariff modifications. The Electrification & Warehouse A Modernization Project was a significant focus, covering project scope, benefits, funding sources, and grant agreements with MARAD and ODOT. The board also considered a design professional services agreement with Jacobs Engineering Group for the Electrification & Warehouse A Modernization Project.