AKRON – Recently, Standard & Poor’s reaffirmed its BBB+ rating on the Development Finance Authority of Summit County Jobs & Investment Bond Fund (Bond Fund) with Stable Outlook. The DFA’s bond fund, in effect since 2004, has originated $61 million in bonds to finance 17 projects in six Northeast Ohio counties. The Fund has financed manufacturing and distribution facilities, private non-profit, corporate, government and tax-increment-financing (TIF) projects.
Currently, the DFA Bond Fund is proposing to assist with redevelopment of the former Goodyear Hall building which is located in the historic East End neighborhood in Akron, Ohio. The East End is a multi-use development in the former Goodyear world headquarters campus located at 1144 East Market Street. The project encompasses 1.7 million square feet of space for office, residential, retail, medical and restaurant clients.
In addition to overseeing the Bond Fund, the DFA manages other revenue bond and tax credit programs that have provided in excess of $780 million in project financing outside of the Bond Fund.
For more information on the Development Finance Authority of Summit County (DFA) and the Jobs & Investment Fund, please visit the DFA website www.developmentfinanceauthority.org.