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Port Authority approves bonds for warehouse near Toledo Express Airport

Financing for an 80,000-square-foot warehouse at the budding Express Industrial Park was approved Thursday morning by the Toledo-Lucas County Port Authority’s board of directors.

The $5 million in taxable bonds from the Northwest Ohio Bond Fund will be personally guaranteed by Ed Harmon, the developer with whom the port authority has worked on both of its industrial parks: Express near Toledo Express Airport, and Willys at the former Jeep plant site in central Toledo.

That plus a loan of up to $1 million from Lucas County Builds will finance construction of a warehouse to be used by Clarios, a local automotive battery manufacturer. According to a port authority staff report, Clarios will consolidate its warehousing at the industrial park on the airport’s south side.

The land involved was previously leased to Harmon Development, LLC with port directors’ approval.

The building would be the second built on the Express Industrial Park site and just south of Phoenix Industrial Technologies, Inc., which occupies the first, built 10 years ago.

Since then, the port authority has spent more than $2 million on roads, utilities, and wetlands mitigation to support other development in the area between the former Burlington Air Express cargo hub, now used by Tronair to manufacture aviation equipment, and U.S. 20A.

In other business Thursday, the port authority directors:

Projects planned for design or construction during the next five years include rehabilitation of three taxiways at Toledo Express and improvements to the passenger screening area there, and runway rehabilitation, pavement crack-sealing, and wildlife fences at Toledo Executive Airport.

 

Posted By: The Blade on May 23, 2019.  For more information, please click here to read the source article.

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