Jennifer Patterson, assistant to the city manager for economic development, said the city would have to dissolve the current Community Improvement Corporation by filing closure documents with the Ohio Secretary of State and disburse the CIC’s assets of about $70,000 and address two financing arrangements.
In addition, Patterson said there would be about $30,000 to $40,000 in legal fees for creation and start-up costs. She also said council would have to approve two resolutions but no public hearings would be required to establish a port authority. Patterson said council would then have to appoint a port authority board and she recommended the size be five members to start.
While the city would establish its own port authority, it could still partner with the port authorities in Butler and Warren counties to do projects, she said. While ports have the flexibility to conduct business at the speed of business and have certain powers such such as acquiring real estate and issuing bonds, Patterson said it would not have eminent domain powers. In addition, she said the city’s port authority cannot go into other jurisdictions without being invited by that community.
Councilman Dan Clark said the Warren County Port Authority has been a great partner with Monroe. Patterson agreed saying that the Park North development is doing great and added the Warren County port “is quick to the table” when doing projects.
“This is a great tool,” Clark said. “It’s an excellent idea.”
About the Author
