Development Finance

Financing Options

Cleveland-Cavaliers-Options

TAILORED FINANCING TO MEET PROJECT NEEDS

The Fixed-Rate Financing Program

Gives smaller organizations the ability to borrow money in the capital market at investment grade rates. The program benefits larger businesses that would otherwise find an investment grade rating costly and difficult to maintain.

Possible Benefits:

  • Financing between $1.5 million and $9 million
  • Financing¬† of fixed assets, land, buildings and select machinery & equipment
  • Fixed interest rates that are based on the taxable or tax-exempt bond rates, which are set when the bonds are sold
  • Long-term financing for up to 30 years

 

The Structured Leasing Program

Ideally suited for organizations that want to construct a new facility, but may not want to own it during the loan term. The Port Authority can own the facility and lease it to the borrower.

Possible Benefits:

  • Sales tax exemptions on construction materials
  • Lease options customized for project ¬†needs

 

The Infrastructure Financing Program

Helps municipalities and developers finance public improvement infrastructure projects such as roads, street lights, underground utilities, sidewalks, landscaping and public parking garages. The program works well in mixed-use developments. Typically the tax increment and/or special assessment revenues pay for the improvements.

Possible Benefits:

  • Up to 100% of project costs
  • Sales tax exemptions on construction materials
  • Fixed interest rates that are based upon the taxable or tax-exempt bond rates, which are set when the bonds are sold
  • Long-term financing for up to 30 years

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    DF BROCHURE

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    Development Finance Brochure

    For more information contact:

    Garth Woodson
    Director, Development Finance and Inclusion
    garth.woodson@portofcleveland.com
    (216) 377-1351