Thursday, April 24 2014 3:47 PM EDT2014-04-24 19:47:30 GMT
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Roughly $4 million worth of energy improvement projects
are on the horizon for four buildings in the downtown Toledo area by way of the
NW Ohio Advanced Energy Improvement District.
Created by the City of Toledo, City of Oregon and the
Toledo-Lucas County Port Authority, the district fronts money for major energy
efficiency projects through bonding and state loans, and property owners pay
back through special assessments.
The owner of the Glass Centre at 701 Jefferson is
petitioning for nearly $700,000 worth of improvements, and says trying to get
money through traditional lending routes is extremely tough these days.
"First of all, can you borrow money to upgrade your
building, and if you can't what's the alternative? The alternative is to shut
it down," said Bruce Rumpf.
The owners of the Oliver House, the Toledo School for the
Arts, and the Toledo Club have also filed petitions to the district, which
require council approval.
"We have the
ability to do 15-year fixed-rate financing for property owners that are doing
whole-building retrofits to their buildings, which are at the end of life for
their major systems," said Kevin Moyer with the Port Authority.
Rumpf says the projects are important to keep older
buildings in the downtown area competitive.
"There's a huge movement across America to go back to the
urban core, especially by younger professionals," he said. "They want to be in