News & Events

Akron Community Fund Revitalization Update

The Development Fund of the Western Reserve and Western Reserve Community Fund have closed the JRayl Transport project with loans totaling $1,770,000 ($1.67M from the Akron Community Revitalization Fund and $100K from WRCF). These loans were with the purpose of financing the renovation of JRayl Transport’s headquarters located in a distressed neighborhood of Akron with […]

DFA is proud to receive The Auditor of State Award again for 2018!

Keith Faber, Auditor of State, recently presented the Auditor of State Award to local governments for “excellence in financial reporting and compliance with applicable laws for fiscal year 2018.” Only 41 of the 6,000 audited entities that received the award met the following criteria of a “clean” audit report: The entity files timely financial reports […]

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 […]

Summit County Introduces Residential PACE Financing for Home Energy Improvements

On Thursday, June 20, 2019,Summit County Executive Ilene Shapiro held a press conference to debut a new residential financing program soon to be available to residents in Summit County. Residential Property Assessed Clean Energy (PACE) financing allows homeowners to make energy efficiency improvements in communities designated as members of the Akron-Summit Energy Special Improvement District […]

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 […]