By Sarah Mayle
Since its inception in 2007, the Blanchard Valley Port Authority has been a great economic success and beneficial tool, helping to deliver more than $500 million of capital investment and hundreds of new jobs to the Hancock County community. As administrator of the BVPA, Findlay Hancock County Economic Development staff recommends exploring how this important tool could alleviate costs when considering almost any project.
“The port is a way that we can differentiate ourselves, a way to tip the scales in our favor when a developer is looking at a piece of land,” said Pat Sadowski, a member of the BVPA Board of Directors and FHCED Advisory Council. “They are going to be looking at a whole host of factors – utilities, workforce, the cost of the land – and maybe unlike some other places we can check those boxes and also help you with financing. While there are fees to utilize the port’s assistance, there is no cost or risk to explore if it’s something that will work for your project.”
The BVPA can assist qualifying projects through sales tax savings, tax exempt financing, tax increment financing, construction financing, ground leases, property sale/transfer, construction management and other programs. It was established to encourage regional growth, innovation and job creation.
Created in 2007 by the City of Findlay Council and Board of Hancock County Commissioners, the BVPA is a separate, independent unit of local government – not part of the state, county, or city governments. It is administered by FHCED and a seven-member board of directors. In other municipalities a port authority might also oversee a seaport or airport as well, but in most Ohio counties, port authorities are a tool in the toolbelt for financing purposes, Sadowski said.
Under Ohio law, a port authority can participate in activities that enhance, foster, aid, provide, or promote transportation, economic development, housing, recreation, education, governmental operations, culture, or research. It can also finance, own, or lease land, buildings, and equipment. Projects that reach a $10 million threshold and up are best suited to use the port, said Chris Keller, executive director for FHCED.
“If the project is under that, the fees associated with it can dilute the savings, but for anyone with a project of $10 million or more, it is always worth investigating,” she said.
Most of the BVPA’s past projects are in Hancock County. Sadowski said 64 of Ohio’s 88 counties have a port authority, however not all of them are active. Many of Hancock County’s neighbors – Wyandot, Fulton, Hardin, Henry, Defiance and Crawford counties – do not have one. The BVPA can also partner with the Toledo Port Authority to expand opportunities but keep the project local, in special circumstances.
“The BVPA can be used in any county in Ohio,” Sadowski said. “But the rule is that in order to use a port outside of your county, your county commissioners have to agree to it. For some counties, it could be advantageous to explore.”
Keller said the office is currently helping four clients determine whether the BVPA could offer a savings for their projects. She urges anyone considering a project to reach out to learn more about the BVPA, with special emphasis on housing developers.
“This is a great opportunity to help encourage development by abating some of the upfront costs associated with it,” Keller said. “So far, we haven’t used this tool much for residential development and we want to remind those investors that it’s there. We encourage all investors to take advantage of this highly beneficial resource, this important tool that can help lower costs.”
