TOLEDO, Ohio, June 22, 2011 – The Toledo-Lucas County Port Authority Board convenes the June Board of Directors meeting tomorrow at 8 a.m. on the 3rd floor of One Maritime Plaza. The following items of interest will be discussed and decisions and further details regarding these and additional items are available upon request after the conclusion of the board meeting tomorrow.
• Consider Issuance of Bonds for City of Toledo Parking System Project
The Port Authority has been in discussions with the City of Toledo to purchase three of its parking garages, including the Superior Street Parking Garage, the Vistula Street Parking Garage, and the Port Lawrence Parking Garage. In addition, management rights to the on-street parking operations have been discussed. If this item is approved by the Port Authority board, it will then need to be approved by the City of Toledo.
• Consider Issuance of Bonds for Carpe Ventus VII, LLC (Oregon City Public Schools District Energy Project)
The Port Authority has been asked to consider issuing up to $4.5 million of taxable conduit bonds to assist in financing of the development, installation, and integration of two 750 kw wind turbines that will be located on the site of Clay High School. The wind turbines will generate electricity for the school.
• Consider Construction Contract for Rail Loop at Ironville Site
The Port Authority received a $5 million Job Ready Sites (JRS) grant to facilitate infrastructure improvements at Ironville Docks and part of these improvements include the preparation of a rail bed and installation of rail track. Bids received for this work will be reviewed and awarded.
• Consider Incentive to American Eagle for Addition of Flight at Toledo Express Airport
Recent load factors on American Eagle out of Toledo Express have been at or above the system-wide load factor for the past six months and the airline has evaluated the performance of the Toledo service and has agreed to add a 4th flight subject to a $200,000 incentive payment. The additional flight is proposed to arrive at Toledo Express Airport at 9:55 a.m. and depart for Chicago O’Hare at 10:35 a.m. The additional flight is projected to carry an additional 20,000 passengers per year to and from the Airport, which will generate additional revenue through parking, rental car, and concessions, and will also provide additional passenger facility charge revenue, and may assist the Port Authority in qualifying for Airport Improvement Program grant funds for the maintenance and development of the Airport. The incentive details will be reviewed and considered for approval.
• Consider Nomination of A. Bailey Stanbery to Architectural Review Committee of Marina District
In 2007, the mayor of the City of Toledo established an Architectural Review Committee for the Marina District which consisted of five committee members. The Port Authority was asked to fill the seat of the Property Owners Association until an Association was formed. The recent investment in the Marina District has generated a renewed interest in the re-establishment of the Architectural Review Committee and the board will consider appointing the Seaport Committee Chairman, A. Bailey Stanbery, to this seat.
• Consider Inducement to Issue Bonds to Fund Energy Efficiency Transactions for Cities of Toledo and Oregon, Lucas County, and Other Commercial Transactions
As part of the BetterBuildings Northwest Ohio Program, the Port Authority board will take the first step in considering issuing a bond to assist in the financing of a variety of energy efficiency and alternative energy projects.
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