WEST UNION, Ohio (Oct. 16, 2015) — The Adams County Commissioners and Clermont County Port Authority (CCPA) signed an agreement on Oct. 15 allowing the Clermont County Port Authority to serve as the Port Authority for Adams County. This agreement provides a great deal of flexibility between the organizations and allows the CCPA to exercise all of its powers in Adams County just as it can in Clermont County.
Port authorities are granted broad powers under Ohio Revised Code Section 4582, including: Acquire real and personal property; own, lease, sell, and construct improvements to real property; and issue revenue bonds for port authority facilities. Because of their tax-exempt status, port authorities have the advantage of passing savings on to economic development projects, thus making projects possible that might not otherwise happen.
The initial term of this agreement will be for three years and may be renewed for one-year terms after that. “This regional collaboration will provide an important tool for economic development in Adams County. This agreement will allow our county to utilize the expertise and resources of the Clermont County Port Authority,” said Adams County Commissioner Paul Worley.
“In three short years, the Clermont County Port Authority has helped facilitate $158 million in new capital investment,” said Andy Kuchta, Executive Director of the Port Authority. “We look forward to using the tools available to a port authority to help spur economic development in Adams County, and appreciate the partnership with the Adams County commissioners.”
Holly Johnson, Adams County Economic and Community Development Director, said, “This collaborative agreement between Adams County and Clermont County Port Authority should provide the stimulus in our county for initial financial business resources to be magnified. This positive program has my support by providing a specific tool to facilitate economic development.”