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

The Village of Seville The Village of Seville, Ohio is a relatively small municipality in southern Medina County. The village planned to renovate an existing building to house an expanded Town Hall. The municipality’s water filtration facility, serving over 1100 customers, also needed to be upgraded. The Challenge: The Village of Seville had never issued municipal bonds and did not have a bond rating. The bond issue process had to be streamlined for timely project completion. Benefits of Working with Summit County Port Authority (SCPA) The SCPA provided access to the capital markets. The Village of Seville was able to finance 100% of the project. The BBB+ rating of the SCPA bond fund provided secure funding and a low interest rate. Project Cost: $3.022 million Source Funds: $2,030,000 - Summit County Port Authority Bonds $600,000 - Equity $2,630,000 - Total Interest Rate: SCPA Fixed Rate Bonds 5.10% The Village of Seville worked with the Summit County Port Authority to secure fixed interest rate financing. The SCPA Bond Fund is rated BBB+ by Fitch Ratings. The village’s partnership with the SCPA streamlined the potentially lengthy process of bringing an issue to market.