Margaret Rivalsky

The Board received a presentation regarding the North Coast Waterfront Development Corporation's role and discussed the Port's involvement in upcoming waterfront projects. The President provided updates on new personnel, performance appraisal processes, and the initiation of strategic planning. The Board approved several bond issuances, including refunding revenue bonds for the Jennings Center for Older Adults, lease revenue bonds for the Pearl Road Residences project, and taxable development lease revenue bonds for Belle Oaks Marketplace phases 1A building 2 and 3. Additionally, an inducement request for the Union at Cleveland Harbor affordable housing project was approved. The Board adopted the 2026 operating and capital budgets and associated appropriations. Maritime committee business included authorizing a 50-year submerged lands lease for the Northeast Ohio Regional Sewer District and approving an agreement with Lilypad EV LLC for electric vehicle charging infrastructure. The Board also received an operational update regarding Logistec's cargo tonnage and terminal performance.

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.