Dayton area poised for $151M in bond financing - East Bay Business Times:

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Ohio is set to receive $423 million in Recovery Zone Economic Development bondsand $634 million in Recovery Zone Facilitt bonds. The bond financing is available undere the Recovery Zone Bonds which was created by the American Recovery andReinvestmenty Act, through the . Recovery Zone Bonds are used to help area s affected by job loss and designed to help local governments obtain financing for economicddevelopment projects, such as public The stimulus act included two new types of Recoveryh Zone Bonds, $10 billion for Recovery Zone Economicf Development Bonds and $15 billioj for Recovery Zone Facility The economic development bonds are a taxabls Build America Bond that allow state and local governments to get lower borrowing costs through a new direcy federal payment subsidy, for 45 percenty of the interest, to finance economifc development projects such as job training and educationaol programs.
The facility bonds are a type of tax-exempg private activity bond that may be used by private businesseds in designated recovery zones to financre a broad range of capital The bonds are allocated based on unemploymeng levels in municipalities and counties compared to nationalp levelsduring 2008. The programs will be administered accordingto U.S. Treasurt and Internal Revenue Service Ohio Gov. Ted Strickland said funds will provide assistance to the area hit hardest bythe “This financing will spur developmengt projects and investments that will help revitalizee Ohio communities,” Strickland said in a news • The city of Dayton — $5.
7 millio in economic development bonds, $8.5 million in facility bonds; • Butlerr County — $10.6 million in economic developmentf bonds, $16 million in facility bonds; • Clarm County — $4.5 million in economicf development bonds, $6.7 million in facilitty bonds; • Darke County — $1.8 million in economifc development bonds, $2.6 million in facility bonds; • Greene County $6.6 million in economic development bonds, $9.9 million in facilityg bonds; • Miami County — $4.6 million in economic development $6.9 million in facility • Montgomery County $16.6 million in economic development bonds, $24.
88 million in facility bonds; • Prebler County — $1.8 million in economic developmentf bonds, $2.7 million in facility • Shelby County — $2.5 million in economiv development bonds, $3.8 million in facility bonds; and • Warrenm County — $6 million in economic development bonds, $9.1 million in facility bonds.