First Bond Fund closings
The newest Bond Fund Program in the State of Ohio, The Southwest Ohio Regional Bond Fund (the “SORBF”), has closed its first two transactions since being established earlier this year. The SORBF, jointly operated by the Dayton-Montgomery County Port Authority and the Port of Greater Cincinnati Development Authority, was developed to allow long term, fixed rate debt to be lent to potential borrowers in the entire Southwest Ohio region. The two projects – at Kettering Tower and Top of the Market Banquet Center in Dayton, Ohio — were purchased by the Toledo Port’s green energy portfolio to allow for a collaborative and cost efficient delivery of capital to these energy efficiency projects.
Energy improvements at Kettering Tower — including LED lighting and building automation system — will reduce the building’s energy consumption by 33% annually. Energy improvements at Top of the Market include internal and external lighting retrofits, walk-in cooler controls, HVAC replacement and roof replacement.
DiPerna Associates contributed to this article.