Tailored options built for all businesses.
Throughout the state of Ohio, the Development Finance Authority of Summit County (DFA) offers various forms of bond financing. DFA’s public-private partnerships can provide financing tailored to the needs of a given project.
Types of Funds We Offer
Explore the variety of financing programs and funds we offer to learn which options could best support your project or economic development goals. These tools are designed to help businesses and community partners access capital and support that might not otherwise be available.
Jobs & Investment Fund
Provides access to $2.5M-$7.5M long-term, fixed-rate financing to fund new building construction, public infrastructure, facility expansion, building acquisition and renovation, and equipment purchases. DFA is an issuer of taxable and tax-exempt bonds rated A by Standard and Poor’s.
Tax Increment Financing (TIF)
Allows the future increase in property taxes to be used to finance part of the cost of improvement that will generate the increased taxes. A TIF is put in place by an ordinance of the city council or township board of trustees to provide an exemption from property taxes generated from the increased value of a development project. The property owner makes service payments instead of exempted property taxes to pay debt service on bonds issued.
Tax Exempt Debt Financing
Provides access to tax-exempt bonds for governmental, 501c3, qualified private activity and exempt facilities. Tax exempt debt has a lower cost of interest and is attractive to investors as interest payments are not subject to federal income tax. Common types include Industrial Development Bonds, Exempt Facility Bonds, Student Housing Revenue Bonds, and Multifamily Housing Revenue Bonds. All of these bonds require a State or Local government issuer, such as DFA, to issue the bonds.
Property Accessed Clean Energy Financing (PACE)
Allows property owners within an Energy Special Improvement District (ESID) to place a voluntary special assessment on their property tax bill to pay debt service on a bond or a loan used for projects that demonstrate cost savings through reduced energy consumption or energy generation. DFA can provide financing $200K to $8M.
Capital Lease Structure
Provides a financing structure to reduce construction costs through sales tax savings for projects over $10M. DFA’s tax-exempt status can be used through its ownership of the asset, allowing for a sales tax exemption on the purchase of building materials.
Real Estate Acquisition and Sale
Facilitates the sale of real estate from public entities to private owners/developers without public bidding.
DFA Impact stories
Here are a few ways we’ve helped our clients find success.
Goodyear Middle School Transformation
DFA issued $25 million in tax-exempt multi-family housing revenue bonds to transform the former Goodyear Middle School and East Akron YMCA sites near the old Goodyear headquarters (Akron, OH) into a vibrant new housing community. The project includes a 4-story, 162,869 square foot development comprised of 160 affordable housing units.
New Plaza Management
With a nearly $600,000 Property Assessed Clean Energy (PACE) loan from DFA’s Energy Efficiency Revolving Loan Fund, New Plaza Management (Northfield, OH) was able to make roof improvements at the 194,641 square foot shopping center. This energy conservation project is expected to generate annual savings of $6,136, a strong step toward lowering costs and supporting sustainability in our community.
Work With Us
Share your vision for the future — we’re here to help make it happen and uplift the community together.