Modernizing Irishtown Bend
In this episode of Great Lakes Forward, our host Jade Davis, Vice President of External Affairs, is joined by Tom McNair, Executive Director of Ohio City Incorporated, and Linda Sternheimer, Director, Urban Planning and Engagement at the Port of Cleveland.
Together, they discuss the history and development of Irishtown Bend and the steps required to stabilize the hillside along the Cuyahoga River. Without this critical step, Irishtown Bend would fail, resulting in a lost shipping channel that impacts thousands of jobs regionally. The end goal is a successful shipping channel that is safe and a public park to bring waterfront access to the Ohio City neighborhood.
Great Lakes Forward is a podcast series by the Port of Cleveland that tells the untold story of maritime and tackles topics of shipping, logistics and trade.
Find us on the web at www.portofcleveland.com and on Facebook, Twitter, Instagram and LinkedIn we are @portofcleveland Email us with comments and questions at info@portofcleveland.com
Invested in the Community with Tom O'Brien
In this episode of Great Lakes Forward, our host Jade Davis, Vice President of External Affairs, is joined by Tom O’Brien, Director of Neighborhood Connections in Cleveland, Ohio. In November 2020, the Port of Cleveland announced the launch of a Community Investment Fund to provide support to economically vulnerable neighborhoods in the Greater Cleveland area. The fund launched by awarding $150,000 total in grants, of which Neighborhood Connections received $100,000 for economic development.
Together, Jade and Tom discuss the partnership between the Port and Neighborhood Connections and some of the projects and initiatives that are on the horizon
Great Lakes Forward is a podcast series by the Port of Cleveland that tells the untold story of maritime and tackles topics of shipping, logistics and trade. Find us on the web at www.portofcleveland.com and on Facebook, Twitter, Instagram, LinkedIn and YouTube we are @portofcleveland Email us with comments and questions at info@portofcleveland.com
The Cleveland Museum of Natural History is partnering with the Port of Cleveland for renovation of museum’s facilities
Cleveland, OH (February 11, 2021) – The Port of Cleveland is proud to partner with the Cleveland Museum of Natural History, an Ohio nonprofit corporation and cultural, research and educational institution, by providing up to $75 million tax-exempt cultural facility bonds to assist with the financing of costs of acquiring, constructing, renovating, expanding, equipping and improving the facilities of the museum.
“The Cleveland Museum of Natural History has a special place in the hearts of Clevelanders. For some, it’s the start of careers or new interests. For me, it was the site of the first date with my wife. Today, we are proud to approve this funding on behalf of our region,” said J. Stefan Holmes, a member of The Cleveland-Cuyahoga County Port Authority Board of Directors.
The museum’s continued commitment to Cleveland will create a positive impact in Cuyahoga County, Northeast Ohio and the State of Ohio. Currently, the museum employs 160 people, educates approximately 100,000 students per year and attracts over 300,000 visitors annually.
The funds raised through the bond issuance will help the museum expand these efforts with the addition of new education and collection spaces, the creation of a new visitor hall and new wing, the renovation of the existing exhibit space and existing building, upgrades to central utilities and other improvements to Museum facilities and related acquisitions.
In 2020, the Cleveland Museum of Natural History celebrated its 100th anniversary, honoring the integral role of the museum to the region’s quality of life, cultural and economic vibrancy, educational and scientific advancement, and as a leader in the region's conservation and sustainability efforts.
Extending beyond the region, the museum has been recognized as a global leader in scientific research for the past century. With vast collections containing more than five million research specimens and artifacts, it is Ohio’s largest museum devoted to the natural sciences and one of the top 10 natural history museums in the United States.
Environment & Infrastructure: Building a Greater Cleveland
In this episode of Great Lakes Forward, our host Jade Davis, Vice President of External Affairs, is joined by Nicholas LaPointe, Director of Planning & Capital Development at the Port of Cleveland. Together, they discuss the Port of Cleveland’s ongoing environmental initiatives as well as current infrastructure projects set to modernize the Port.
Great Lakes Forward is a podcast series by the Port of Cleveland that tells the untold story of maritime and tackles topics of shipping, logistics and trade.
Find us on the web at www.portofcleveland.com and on Facebook, Twitter, Instagram and LinkedIn we are @portofcleveland Email us with comments and questions at info@portofcleveland.com
Spurring Job Creation & Economic Vitality
In this episode of Great Lakes Forward, our host Jade Davis, Vice President of External Affairs, is joined by Carl Naso, Chief Financial Officer at the Port of Cleveland. Together, they discuss Development Finance, and its role in economic development and job creation across Northeast Ohio.
Great Lakes Forward is a podcast series by the Port of Cleveland that tells the untold story of maritime and tackles topics of shipping, logistics and trade.
Find us on the web at www.portofcleveland.com and on Facebook, Twitter, Instagram and LinkedIn we are @portofcleveland Email us with comments and questions at info@portofcleveland.com
Port of Cleveland’s Community Investment Fund to Provide Support to Economically Vulnerable Neighborhoods
Cleveland, Ohio (November 18, 2020) – The Cleveland-Cuyahoga County Port Authority (Port of Cleveland) announced the launch of a Community Investment Fund (CIF) dedicated to economically vulnerable neighborhoods and their residents. The Port’s CIF will make grants to aid Cuyahoga County based nonprofit programs and organizations focused on workforce development, economic development, and community improvement / quality of life issues.
“The Port’s Community Investment Fund will help ensure that our agency’s traditional economic development and finance work provides equitable benefit throughout Cuyahoga County,” said Will Friedman, the Port’s President and CEO. “Our goal with the CIF is to leverage our resources and connect chronically disadvantaged neighborhoods and communities to greater opportunity.”
To fund the CIF, the Port Authority Board of Directors agreed to dedicate 10% of the fees generated each year by development finance projects to CIF grants. The Port’s traditional development finance work leverages its bonding capacity, tax-favorable status, and structured leasing to finance development projects and related infrastructure at more competitive rates.
“The Port’s Board of Directors know that our traditional development finance tools have had huge success generating development at scale, but we also need to play a role supporting community development efforts at the neighborhood level, many of which are not positioned to tap into our development finance tools,” said Darrell McNair, Chair of the Port’s Board of Directors CIF Committee. “These neighborhoods are full of opportunity, but face greater difficulty in attracting private capital, meeting underwriting standards, and capitalizing on momentum.”
To guide the grantmaking process, the Port’s board established a CIF committee that evaluated potential grantees based on amount of need, deliverables from the grant funds requested, and potential measurable impact. Based on the committee’s recommendation, the Port’s Board of Directors has approved grants of $50,000 to Phastar/Benjamin O. Davis Aviation and Maritime High School for its maritime and waterfront education programs and $100,000 to Neighborhood Connections to provide matching grants in Cleveland & inner-ring suburbs.
“The Port is thrilled to make these grants to Benjamin O. Davis Aviation High School and Neighborhood Connections,” said Margot Copeland, a member of the Port Board and the CIF committee. “The CIF is our way of making sure the Port is investing in economic development at all levels in the County, and we believe this first round of grants is an excellent way to launch the program.”
Avery Dennison Corporation
- Total Project Cost: $50.1M
- Cleveland, OH
- Stand-Alone Financing Program Total Project Cost - $50.1M
- Port Authority Issue - $39.8M
Learn more about Avery Dennison.
Cleveland Cavaliers Player Development Center
- Total Project Cost: $30.5M
- Independence, OH
- Common Bond Fund Program (taxable)
- Financing Partners:
- Summit County Port Authority ($6M)
- Toledo-Lucas County Port ($5.2M)
Learn more about the Cleveland Cavaliers.
Cleveland Clinic Medical Office Building & Garage
- Total Cost: $39.5M
- Euclid/E. 93rd Street, Cleveland, OH
- Lease Revenue Bond Program (tax-exempt)
- Financing Partner: City of Cleveland
Learn more about Cleveland Clinic.