Amazon Announces Major Investment in Akron

AKRON, Ohio, July 22, 2019 – Amazon, the largest Internet-based retailer in the United States, today announced plans to redevelop the former Rolling Acres Mall in Akron into a distribution center, creating 1,500 new jobs by 2022. City, county and regional officials welcomed the investment to the area. “In Akron we have a proud history […]

Council of Development Finance Agencies Recognizes Development Finance Authority of Summit County as a high performing Development Finance Agency

Akron,Ohio (January 2019) The Council of Development Finance Agencies (CDFA) has recognized Development Finance Authority of Summit County as one of “the fifteen highest performing Development Finance Agencies across the nation.”  CDFA is a national association dedicated to the advancement of development finance concerns and interests.  CDFA is comprised of the nation’s leading and most […]

The Development Finance Authority elects new Board Officers and honors outgoing Board members

Akron, Ohio (December2018) At its final Board meeting of 2018, the Development Finance Authority welcomed new members  Mark Douglas and Ebony Yeboah, who have been appointed by the County of Summit, effective January1, 2019. Ebony Yeboah is Vice President, Deputy General Counsel, Corporate Secretary and Chief Ethics Officer for FirstEnergy Service Company, a subsidiary of […]

Development Finance Authority Announces Promotions; Re-organization of Staff

Akron, Ohio (November 2018) The Development Finance Authority of Summit County (DFA) announced today it has taken the following personnel actions which are effective immediately; Rachel Bridenstine to Managing Director, Development Fund of the Western Reserve (DFWR), Lori Sallaz to Director, Administration, Laurie Ann Stoddard has been named Fiscal Officer, Alyson Moritz to Manager, Economic […]

Development Finance Authority of Summit County Announces S&P Global Ratings Upgrade from BBB+ to A- with a Positive Outlook

Akron, Ohio (August 2018) The Development Finance Authority of Summit County (DFA) announced today Standard & Poor’s (S&P) Global Ratings has upgraded DFA’s Jobs & Investment Bond Fund to A minus with a Positive Outlook.  S&P noted the Fund has a strong financial risk profile, operating performance history and financial policies. The Jobs and Investment […]

Development Fund of the Western Reserve (DFWR) announces its sixth Community Loan Fund project financing

Akron, Ohio (July 2018) – The Akron Community Revitalization Fund (ACRF) is announcing its sixth loan of $1.67M, which is an interim construction loan for the Bowery re-development project in downtown Akron. The Bowery is a proposed six building, $40M mixed use development project which is anchored by the historic Akron Civic Theatre. The loan […]

Development Fund of the Western Reserve (DFWR) announces its fifth Community Loan Fund project financing

Akron, Ohio (July 2018) – The Akron Community Revitalization Fund (ACRF) is announcing its fifth loan for $1.6 million which will finance the construction and buildout of the ground floor commercial/retail space of Middlebury Commons- a mixed-use project with affordable apartments for seniors and first floor retail space. Middlebury Commons is a significant part of […]

Development Fund of the Western Reserve (DFWR) announces its fourth Community Loan Fund project financing

Akron, Ohio (June 2018) – The Akron Community Revitalization Fund (ACRF) is announcing its fourth loan for $580,000, which is being used to build out tenant improvements in the former Advanced Elastomer Systems (AES) Building. Between 1996 and 2016, the property had 90% occupancy rates until Exxon Mobil Advanced Elastomer Systems (AES) vacated resulting in […]

Development Fund of the Western Reserve (DFWR) announces its third Community Loan Fund project financing

Akron, Ohio (June 2018) – Announced today, the third loan made by the Akron Community Revitalization Fund (ACRF). The $700,000 loan will be used by Rubber City McDonald’s to finance the purchase and improvements of a building located at 55 Furnace Street. This loan enabled Rubber City McDonald’s to consolidate its Headquarters operations and add […]