A client since 1997, the Stark County Port Authority is a strategic partner and economic development leader in Stark County, OH. Offering a diverse set of resources and incentive financing options, the SCPA has attracted several business enterprises to the area and aided in the retention of many of its local businesses. SCPA has played a lead role in the Pro Football Hall of Fame Museum and the $915MM multi-phase Hall of Fame Village project located in Canton, OH.
Capital Lease
In 2021, the Stark County Port Authority agreed to issue up to $90,000,000 of Taxable Affiliate Purchase Capital Lease Revenue Bonds to benefit the Tractor Supply Company, a publicly traded retail company with more than 2,100 stores in 49 states. Tractor Supply, via its affiliate TSC Navarre DC, LLC, built and operates a nearly 1,000,000 square foot warehouse and distribution facility in Navarre, Ohio.
TDD
In 2022, The Stark County Port Authority agreed to issue up to $7,500,000 worth of 2022 Series A Tourism Development District Special Obligation Revenue Bonds, the proceeds of which would be used to pay or reimburse project costs associated with the Center for Performance, a 100,000 square foot indoor domed facility that will serve as a venue for year-round events such as concerts, sporting events, and conventions in Stark County.
In turn, the Treasurer of the State of Ohio agreed to issue up to $7,500,000 million of Ohio Enterprise Bond Fund bonds, the proceeds of which will be used to make a loan to the Stark County Port Authority, the repayment of which is evidenced and secured by the TDD Bonds.
TIF
In 2023, the Stark County Port Authority agreed to issue and sell approximately $19,500,000 in tax increment financing revenue bonds to pay for various public infrastructure improvements associated with the master-planned Hall of Fame Village development in Canton, Ohio.
