Medina County Port Authority Meeting
The next Medina County Port Authority Meeting/Medina County Fiber Network Meeting is scheduled for Wednesday, February 1st at 8:00 am.  The meeting will be held at the Medina County Economic Development Coporation office at 144 N. Broadway Street, Balcony Room B, Medina, OH.

Russ Schabel Named to Port Authority Board of Directors

Russ Schabel was appointed by the Medina County Commissioners to serve a four-year term beginning January, 2012.  Russ is Chief Financial Officer and member of the Board of Directors at Brunswick headquartered The Philpott Rubber Company, which has provided custom molded plastic and rubber parts to customers in the industrial, commercial and retail sectors since its founding in 1889.

Construction Underway on Medina County Fiber Network
The construction of the Medina County Fiber Network began in May in the Medina-Akron corridor on Route 18 and in the Brunswick Industrial Park.  Permits for underground construction in other segments of the network have been submitted to the Ohio Department of Transportation (ODOT) and various municipalities.   Concurrently, the Medina County Port Authority is working with utility companies to finalize pole attachment agreements.  “Since the groundbreaking ceremony on March 11, I am very encouraged by the progress in the construction timeline,” said Bethany Dentler, Executive Director of the Medina County Economic Development Corporation.  

Helping Businesses

Revenue Bond Fund   Port Authorities have become an increasingly important part of the economic development landscape in Ohio. Over the past fifteen years port authorities have aided companies, not-for-profits, hospitals, developers and local government in making more than $2.5 billion in capital investments in Ohio. Cooperative agreements allow port authorities to partner with other governmental entities, including other ports for development transactions. Port Authorities partner to provide financing for customers. Medina County Port Authority has such a Cooperative Agreement with Summit County Port Authority which enables the Summit Port Authority Bond Fund Program to fund projects in Medina County. PROGRAM BENEFITS INCLUDE: • Fixed Interest Rate (Up to 30 years) • Construction and Permanent Financing • 90% to 100% Financing • No sales tax on construction materials • Close within 60 to 90 days TYPE OF BONDS: Tax-Exempt Bonds • Industrial Projects • Non-Profit (501 C 3) • Exempt Facilities • Governmental Taxable Bonds • Commercial Projects A $5 million cash reserve is necessary to establish a Bond Fund Program. The agreement with the Summit Port Authority enables Medina County Port Authority to provide this type of financing currently. The Medina County Economic Development Corporation serves as the Administrator for the Medina County Port Authority, contact Bethany Dentler, Executive Director at 330-722-9215 or bdentler@medinacounty.org to discuss your project.