The council will entertain a two-reading emergency ordinance to create the Hamilton Development Finance Authority, setting its powers and jurisdiction, and appointing a five-member board.
“In order to preserve and enhance the welfare and safety of the residents of the city, and to provide for additional employment and housing opportunities within Hamilton, the city now desires and determines it to be necessary to create a port authority,” according to a staff report by City Manager Craig Bucheit.
The Hamilton DFA, which is a dual agency combining a port authority and a development finance authority, would work in concert with the city’s economic development staff. The port authority has different economic development tools, and a development finance authority can help developers with gaps when it comes to financing needs for projects.
The board of directors will serve four-year terms. However, the initial appointments will have staggered terms. The inaugural board, whose tenures all retroactively would begin on Jan. 1, 2024, is proposed to be:
- Miami University President Greg Crawford (serving until Dec. 31, 2025),
- Kettering Health Hamilton President Paul Hoover (serving until Dec. 31, 2026),
- Hamilton Community Foundation President and CEO John Guidugli (serving until Dec. 31, 2027),
- First Financial Bank Senior Vice President Mandy Neeley (serving until Dec. 31, 2028), and
- Hamilton resident Rob Wile, a former City Council member (serving until Dec. 31, 2028).
Once the creation of the organization is finalized ― whether it’s Wednesday or two weeks from then ― the board can officially meet. The board would hire a staff person to oversee the day-to-day operations of the Hamilton DFA.
Hamilton leaders formally began in December the process of creating a port authority and development finance agency. While it was initially believed Smith would take over this position, the opportunity was presented for him to be the CEO of the Butler County Finance Authority, formerly known as the Butler County Port Authority.
The Hamilton DFA would be a managed entity under the BCFA but would operate independently, though Smith will provide strategic oversight.
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