Director of External Affairs & Media Relations at Port Of Greater Cincinnati Development Authority
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The Board approved a resolution authorizing an agreement with Stowe Hill Preservation, L.P. for the financing of the Stowe Hill Apartments, a multifamily residential housing project. The resolution grants initial approval for the issuance of revenue bonds in a principal amount not to exceed $28,000,000 to facilitate the acquisition, rehabilitation, and improvement of the housing facilities.
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The board discussed and approved several resolutions concerning financial bonds and grant applications. Specific authorizations included the issuance of revenue bonds for University Station, lease revenue bonds for a residential conversion project at 1520 Madison Road, and lease revenue bonds for multi-family construction in Sharonville. Furthermore, the board authorized a co-application for a Maritime assistance program grant to support river and rail terminal benchmarks. The session also featured a financial report, which detailed current revenue trends, expenses, updates on the CARE homes initiative, and the status of unrestricted cash reserves.
This strategic vision outlines The Port's approach to stimulating economic growth in Southwestern Ohio. It focuses on addressing regional challenges through strategies centered on providing affordable homes, creating family-sustaining jobs, and fostering cleaner, greener, safer neighborhoods. Key areas of focus include industrial site transformation, neighborhood redevelopment, innovative public finance tools, and partnering on complex public projects to ensure economic opportunity and prosperity for residents and communities.
The board discussed the president's reports on strategic planning, state-level advocacy, and regional partnerships. Approval was granted for the issuance of revenue bonds for a mixed-rate apartment project in the Atlas building and a class-A office building development known as Montgomery Quarter Phase II. The board reviewed a roadmap for the Cincinnati Innovation District, adopted a new cybersecurity policy, and received an update on financial performance, including status reports on the CARE Homes program and ongoing audits.
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