Dayton area poised for $151M in bond financing - Dayton Business Journal:

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Ohio is set to receive $423 million in Recoverh Zone Economic Development bondsand $634 million in Recovery Zone Facilit bonds. The bond financing is availablr under the Recovery ZoneBonds program, whicn was created by the Americanj Recovery and Reinvestment Act, through the . Recovery Zone Bonds are used to help areaxs affected by job loss and designedr to help local governments obtain financing for economicdevelopment projects, such as publif infrastructure. The stimulus act included two new typed of RecoveryZone Bonds, $10 billion for Recovery Zone Economic Development Bonds and $15 billion for Recoveryh Zone Facility Bonds.
The economic developmentt bonds are a taxable Buildd America Bond that allow state and locakl governments to get lower borrowing costs througyh a new direct federalpayment subsidy, for 45 perceny of the interest, to finance economicf development projects such as job training and educational The facility bonds are a type of tax-exempgt private activity bond that may be used by private businessew in designated recovery zones to finance a broas range of capital projects. The bonds are allocated basedd on unemployment levels in municipalities and countieas compared to national levelsduring 2008. The programse will be administered accordingto U.S.
Treasury and Internal RevenueService guidelines. Ohio Gov. Ted Strickland said fundsd will provide assistance to the aread hit hardest bythe recession. “This financing will spur development projectzs and investments that will help revitalizweOhio communities,” Strickland said in a news • The city of Dayton — $5.7 millio in economic development bonds, $8.5 millionm in facility bonds; • Butler Count y — $10.6 million in economic developmenty bonds, $16 million in facility bonds; • Clark Countuy — $4.5 million in economic development bonds, $6.7 milliom in facility bonds; Darke County — $1.8 million in economic development $2.
6 million in facility • Greene County $6.6 million in economic development bonds, $9.9 millionb in facility bonds; • Miami County — $4.6 million in economicx development bonds, $6.9 million in facility bonds; Montgomery County — $16.6 million in economif development bonds, $24.8 million in facility bonds; • Prebl County — $1.8 million in economic development bonds, $2.7 million in facility bonds; Shelby County — $2.5 million in economic development $3.8 million in facilituy bonds; and • Warren Countgy — $6 million in economiv development bonds, $9.1 million in facilitty bonds.