Medina County Port Authority Meeting
A special meeting of the Medina County Port Authority Meeting/Medina County Fiber Network Meeting has been called for Tuesday, May 15th at 1:00 pm.  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.  

Projects > Projects

Digestive Disease Consultants of Medina, Inc. Acquisition, construction, installation and equipping of a new 40,000 square foot medical office facility. Project allowed Digestive Disease Consultants to expand their practice by adding exam rooms, additional beds and procedure rooms. The Challenge: The client was seeking very long-term fixed-rate financing for the project. As the project neared closing and ready to issue bonds, the credit market entered a period of multiple interest rate increases. The parties worked together to deliver a competitive financing structure, allowing the project to move forward. Benefits of Working with Summit Count Port Authority Digestive Disease Consultants was able to access investment grade interest rates and finance their project over a 20 year long-term fixed-rate basis through the Port Authority Bond Fund Program. Through a capital lease structure the Port was able to deliver sales tax savings on construction materials related to the Project. Project Cost: $6 million Source Funds: $6,000,000 - Summit County Port Authority Bonds $ 119,878 - Project Fund Earnings ____________ $6,119,878 - Total Interest Rate: SCPA Fixed Rate Bonds: 7.25%