JOHNSON ANNOUNCES MORE THAN $921,000 TO CONDUCT BROWNFIELD CLEANUP ACTIVITIES
Akron and Cincinnati Port Authority to Receive Clean Ohio Funds

FOR IMMEDIATE RELEASE
March 14, 2005

Columbus, OH -- Lieutenant Governor Bruce Johnson today announced that more than $921,000 from the Clean Ohio Assistance Fund (COAF) has been awarded by the State Controlling Board for brownfield cleanup activities on the former Morgan Avenue property located in Akron (Summit County) and the former GM/Globe property located in Norwood (Hamilton County).

“These funds will provide the assistance necessary for these entities to conduct brownfield cleanup activities and ensure the safety of these two properties,” said Johnson, who also serves as director of the Ohio Department of Development (ODOD). “I am pleased that this assistance will help transform these once vibrant properties into viable economic development locations for these communities.”

The City of Akron will receive $171,300 from the COAF to conduct a Phase II Environmental Assessment on the Morgan Avenue property located at 346 Morgan Avenue. The property was once used for commercial/industrial purposes dating back to the early 1900’s. The COAF will be used to conduct water and soil testing and report preparation. In addition, the funds will be used to determine the suitability of the property for remediation and redevelopment. Summit Heat Treating plans to expand its building, located adjacent to the property, retain its workforce and add approximately eight to 14 new jobs once the property is ready for redevelopment.

The Port of Greater Cincinnati Development Authority will receive $750,000 from the COAF for the remediation of the former GM/Globe property located at 5200 Carthage Avenue in Norwood. The 15-acre property has an industrial history that dates back to the late 1800’s. The grant funds will be used for soil and groundwater remediation. Al Neyer, Inc., the owner and developer of the property, has invested more than $2 million for assessments, acquisition and demolition for the site and plans to construct and redevelopment nearly 500,000 square feet of office, restaurant and commercial space. The company plans to market the property to new companies locating in the region or existing companies that wish to expand. The redeveloped property is anticipated to generate more than $1.3 million in additional real estate taxes and more than $1.2 million in income taxes from the anticipated 2,000 employees on the property.

Money from the $10 million COAF, administered by the ODOD, must be used for Phase I and II Environmental Assessments, brownfield redevelopment or public health projects. Projects located in situational distressed, inner distressed, distressed or labor surplus cities are eligible for funding. Akron is identified as a Priority Investment Area and is a labor surplus city. The Port of Greater Cincinnati Development Authority is a situational distressed city. Projects are evaluated based on economic benefit; environmental improvement, including public health benefit; appropriateness and reasonableness of the proposed project and the financial condition of the community.