DEVELOPMENT FINANCE AUTHORITY OF SUMMIT COUNTY – Board of Directors Meeting
Conference Room #408, 47 N. Main Street, Akron, OH
Tuesday, October 10, 2017 – 8:30 a.m.
AGENDA
CALL TO ORDER
· Introduction of Guests
REGULAR MEETING
APPROVAL OF MINUTES
September 11, 2017 Board Meeting
NEW BUSINESS
· Resolution 2017-035 - A resolution authorizing the amendment to the DFWR bylaws – Rachel Bridenstine
· Resolution 2017-036 – A resolution appointing Joseph Rossi to the DFWR Board – Rachel Bridenstine
· Resolution 2017-037 – A resolution appointing Fedearia Nicholson-Sweval to the DFWR Board – Rachel Bridenstine
· Resolution 2017-038 – A resolution authorizing an amendment to the budget for 2016 – Laurie Ann Stoddard
UNFINISHED BUSINESS
· NMTC & Development Fund of the Western Reserve (DFWR)
· Federal NMTC application, report
· State of Ohio NMTC application submittal – Alyson Moritz
· Akron Ronald McDonald House project – Greg Mencer
· Oberlin College Foundation project – Greg Mencer
· Lincoln Electric project – Greg Mencer
· Great Waves project
· Akron Community Revitalization Fund – Fully capitalized - Rachel Bridenstine
o Pending grant application for Key Bank Foundation ($150,000)
o Grant from Fifth Third Foundation ($25,000)
o Operating grant from Akron Community Foundation ($10,000)
o Outstanding pledges of $85,000 (PNC Bank, Summit County, Chase Bank)
o Ohio Community Development Corporation Association (Ohio CDC Association) award
· Legislative & other updates, Capitol Hill advocacy – September 28th
· Non-NMTC Legislative Updates
o CDFA legislation, “Modernizing American Manufacturing Bond Finance Act” - Congressman Renacci and Senator Brown
o State of Ohio, outside issuer legislation - Laurie Ann Stoddard
COMMITTEE REPORTS
Executive Committee
· September 2017 Financial Statements – Laurie Ann Stoddard
· State 166 Loan update – Laurie Ann Stoddard
· Trustee Report – Alyson Moritz
· Continuing Disclosure – Alyson Moritz
Personnel Committee
· Budget – new staff position
CHAIRMAN’S COMMENTS
PRESIDENT’S REPORT
· Goals for 2017
· Board composition for DFWR
· Business & Marketing Activities
o CDFA Ohio Roundtable Conference presentation September 7th
o Summit County Township Trustees Association presentation September 12th
o Mayor’s Association presentation September 26th
o Ohio CDC Association Conference October 5th-6th (Alyson and Rachel to attend)
o Ohio Economic Development Association Conference October 18th-20th (Greg to attend) Laurie Ann to attend on October 18th
o Novogradac NMTC seminar October 18th-20th (Rachel and Lori to attend)
o CREW 2017 Annual Real Estate Forum presentation October 19th
o Community Leadership Institute being attended by Lori; previously attended by Laurie Ann
· Akron-Summit County Energy Special Improvement District (ESID) – Laurie Ann Stoddard
o Application received
o County of Summit and Barberton
o County project
· Project Updates
o ABIA
o Advanced Cryogenics
o CAK Industrial Park Phase III
o Civic Theater project – State of Ohio review – Greg Mencer
o Dublin/Bridge Park new community authority project
o East End Former Goodyear Headquarters
o Energy Efficiency Loan Loss Reserve & ODSA additional bond fund reserve
o Fairlawn GIG
o Hall of Fame project/unrated TIF
o Hercules TIF
o Land Bank
o Lockheed
o Portage Family Services – grand opening
o Raemelton Medical Office Building
o Village of Reminderville
o Western Reserve Academy
o Yankee Trace, Centerville
· Jobs & Investment Fund Prospects (Long Term Fixed Rate Financing Program)
o Law Building project
o Maplecrest TIF
· Development Prospects
o Cascade Plaza PACE project
· Next Board Meeting
Monday, November 13, 2017
Adjournment