County Port Authority hears about multiple proposed housing, business projects

ELYRIA — The Lorain County Port Authority Board of Directors on Wednesday heard about multiple residential housing projects and a business development looking to get bond financing and sales tax exemptions during construction. The multiple multimillion-dollar planned projects included a Westlake firm moving its headquarters, warehouse and 22 jobs to Avon. Reaser Pointe Crossing in Elyria got preliminary approval by a vote of 4-1 for bond financing to put in public infrastructure at the proposed 422-unit mixed residential and commercial development in southeast Elyria. Board member David Gillock voted against the measure, saying he didn't understand why developer DBR Commercial Realty shouldn't pay to put in streets on the land it is developing instead of using public financing. Port Authority Director Jim Miller said the board's preliminary approval would allow him to get lawyers started on drafting bond financing documents. The city and Elyria Schools already have signed off on tax increment financing, or TIF. Under a TIF plan, property is exempted from regular property taxes. Property owners instead pay into a fund based on the new value of the land improved by the development, which must be for the public good. That money is then used to pay back bonds, issued in this case by the Port Authority, that pay for public improvements like streets, sidewalks, sewers and streetlights. The property tax exemption will be 100 percent for 30 years. Elyria Schools will get 35 percent of the money paid into the TIF annually up to a certain amount, with the Lorain County Joint Vocational School getting a smaller amount, according to prior Chronicle-Telegram reporting. The board gave unanimous preliminary approval for proposed bond financing for the Black River Forge, a $20 million low- to moderate-income housing project set to start construction in the final quarter of 2026 on West River Road North near the intersection of Griswold Road. The 122 units in the complex will rent for an average of $900 per month, Miller said. The project has received Ohio Housing Finance Authority tax credits, he said. Preliminary approval for proposed bond financing for the Griswold Grove affordable housing project in Elyria was removed from Wednesday's agenda. Miller said the project didn't get approved for OHFA's Low Income Housing Tax Credit program, and the developers asked it be removed from his board's agenda. Miller said his understanding was the plan was not going forward now, but may go forward at a later date. Griswold Grove was placed on a wait list for LIHTC credits. The proposed project at Griswold Road and West River Road North is estimated to cost $31.9 million with 120 units — 60 one-bedroom units, 30 two-bedroom units and 30 three-bedroom units. The board tabled a preliminary approval for proposed bond financing for a housing project at Valley of the Eagles Golf Club for future consideration. The board preliminarily approved a temporary sales tax exemption for the Retreat at French Creek in Sheffield, a 219-unit apartment complex to be built on the old Camp Wa-Hoo property south of Colorado Avenue/Route 611. Attorney Nathan Hessler, representing developer North Coast Design Build in Sheffield Lake, said the project has already been approved by Sheffield Village Council and would involve about $15 million in material purchases for construction. Overall it's a $20 million-plus investment, to start construction in 2026, he said, with one- and two-bedroom apartments costing just over $1,000 to $1,350 in rent per month. There will also be a clubhouse and private pool to attract young professional residents. "This is a development that is going to be a terrific asset to Sheffield village," Hessler said. Hessler also is representing Emerald Hospitality, which is looking to expand the Emerald Event Center on Chester Road in Avon by 6,520 square feet. That's in addition to a new 67,000-square-foot planned Hampton-branded hotel to be built as well, he said. The entire project is expected to cost $21 million, increase property tax revenue by $270,000 annually, provide $375,000 more in sales tax revenue annually, and another $293,000 in hotel lodging taxes plus 40 jobs — 30 full time and 10 part time, Hessler said. "This project adds in every bucket. They're looking to get started this fall," he said. Lastly, a 54-acre, 121-unit multifamily residential housing project on the north side of Chester Road between Moore Road and Route 83 will be started in the final quarter of 2025 with its first phase completed in the second quarter of 2027. The $31.8 million project will create an estimated 373 construction jobs, Miller said. The apartments will be one story, between 810 and 1,500 square feet with rents at market rate, according to the board. The board preliminarily approved temporary sales tax exemption certificates for both. In business development, JFL of Westlake is looking to move its headquarters to Avon, bringing 22 jobs. The company, which makes party favors, toys and gifts, has the financing to build but was looking for a temporary sales tax exemption to buy construction materials, according to the board, which gave preliminary approval to the request. JFL's proposed new headquarters will be just east of state Route 83, near JC Penney and ReWorld waste recycling. It would include 5,500 square feet of office space, a 2,500-square-foot commercial candy kitchen, a 2,000-square-foot automatic packing area and 50,000 square feet of warehouse space. The county Port Authority will get 10 percent of what JFL saves in sales tax as a fee, Miller said. He said he will come back to the board for final approval on the projects. The board also gave final approval for a $1.3 million loan to build and install an elevator in Tokar Tower, the former Lorain County Bank tower at 124 Middle Ave. He said the loan is for 20 years at an interest rate near 8 percent, though he didn't have the exact percentage on hand. Contact Dave O'Brien at (440) 329-7129 or dobrien@chroniclet.com.