Three suburbs in Franklin County will receive $1.7 million between them in loans for infrastructure projects designed to boost economic development, The Columbus Dispatch reports. County Commissioners approved the loans, “the first to be distributed through a revolving loan program the county established using some of the money from a sales tax increase in 2013,” according to the article. James Schimmer, Franklin County’s economic development and planning director, said, “[t]hose sales tax dollars aren’t just disappearing into thin air. They’re being made to work to generate more dollars for economic development.” Upper Arlington “will receive $1 million to install more fiber optic cable,” part of a $2.6-million plan “that officials believe could help projects related to health and information science,” such as The Ohio State University’s new Medical Center office. Whitehall will receive $550,000 for Hamilton Road construction, a planned $2.8-million overhaul “that includes better access to a business park near the airport.” A $125,000 loan to Marble Cliff will help install water lines on Dublin Road and Cardigan Avenue “as part of a plan to redevelop a commercial and industrial park on Cardigan.” All of the loans “carry a 1.7 percent interest rate and must be repaid over 10 years.” For more, read the full article.
County grants three communities infrastructure loans to promote economic development
